Avidian Wealth Enterprises LLC Boosts Position in Adobe Inc. $ADBE

Avidian Wealth Enterprises LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,026 shares of the software company’s stock after acquiring an additional 270 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Adobe were worth $784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. 1248 Management LLC purchased a new position in shares of Adobe during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC purchased a new position in Adobe during the first quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new position in Adobe during the first quarter valued at approximately $30,000. Finally, Nexus Investment Management ULC acquired a new position in Adobe in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $520.00 to $450.00 in a research note on Wednesday, September 24th. Rothschild & Co Redburn downgraded shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price target on the stock. in a report on Wednesday, July 2nd. BMO Capital Markets cut their price objective on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Citigroup decreased their price objective on shares of Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada lowered 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 equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

ADBE opened at $357.55 on Wednesday. The firm’s fifty day simple moving average is $351.57 and its two-hundred day simple moving average is $368.64. Adobe Inc. has a 52-week low of $327.50 and a 52-week high of $557.90. The company has a market cap of $149.67 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.54 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 released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 EPS. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.