IVC Wealth Advisors LLC Sells 151 Shares of Adobe Inc. $ADBE

IVC Wealth Advisors LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,434 shares of the software company’s stock after selling 151 shares during the period. IVC Wealth Advisors LLC’s holdings in Adobe were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC bought a new position in Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the 1st quarter worth about $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the 1st quarter worth about $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the 1st quarter worth about $30,000. Finally, Garde Capital Inc. bought a new position in Adobe in the 1st quarter worth about $34,000. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ADBE shares. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 target price on the stock. in a research note on Wednesday, July 2nd. TD Cowen dropped their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a research note on Friday, September 12th. Redburn Partners set a $280.00 target price on shares of Adobe in a research note on Monday, September 1st. UBS Group dropped their target price on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Trading Down 1.3%

NASDAQ ADBE opened at $346.74 on Friday. The company has a fifty day simple moving average of $353.22 and a two-hundred day simple moving average of $372.26. The stock has a market cap of $145.15 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.55 and a beta of 1.49. Adobe Inc. has a 12-month low of $330.04 and a 12-month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $4.65 earnings per share. 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 forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.