Hudson Valley Investment Advisors Inc. ADV Lowers Stock Holdings in Adobe Inc. $ADBE

Hudson Valley Investment Advisors Inc. ADV lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,337 shares of the software company’s stock after selling 2,399 shares during the quarter. Adobe comprises about 1.0% of Hudson Valley Investment Advisors Inc. ADV’s holdings, making the stock its 27th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Adobe were worth $9,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the first quarter worth about $30,000. Finally, Garde Capital Inc. purchased a new stake in Adobe in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 1.3%

Shares of NASDAQ ADBE opened at $346.74 on Friday. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90. The firm has a fifty day moving average of $353.22 and a 200-day moving average of $372.37. The stock has a market capitalization of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.58 and a beta of 1.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period in the previous year, the company earned $4.65 EPS. The business’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. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ADBE shares. Evercore ISI lowered their price objective on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. Stifel Nicolaus lowered their price objective on Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Redburn Partners set a $280.00 price objective on Adobe in a report on Monday, September 1st. DA Davidson reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. Finally, Royal Bank Of Canada lowered their price objective on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Hold” and an average target price of $433.41.

Adobe 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.