QTR Family Wealth LLC Sells 70 Shares of Adobe Inc. $ADBE

QTR Family Wealth LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,524 shares of the software company’s stock after selling 70 shares during the period. QTR Family Wealth LLC’s holdings in Adobe were worth $590,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp boosted its holdings in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock valued at $2,504,685,000 after purchasing an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock valued at $2,097,289,000 after purchasing an additional 126,688 shares during the period. Amundi boosted its holdings in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $352.75 on Wednesday. The company has a 50 day simple moving average of $354.68 and a 200 day simple moving average of $373.21. The stock has a market cap of $147.66 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48. Adobe Inc. has a 1 year low of $330.04 and a 1 year high of $557.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the prior year, the company earned $4.65 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Barclays boosted their price objective on shares of Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Citigroup cut their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, Melius downgraded shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective for the company. in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $433.41.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.