Venturi Wealth Management LLC Sells 616 Shares of Adobe Inc. $ADBE

Venturi Wealth Management LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 38.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 979 shares of the software company’s stock after selling 616 shares during the quarter. Venturi Wealth Management LLC’s holdings in Adobe were worth $379,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. 1248 Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new stake in shares of Adobe in the 1st quarter worth approximately $30,000. Finally, Garde Capital Inc. bought a new stake in shares of Adobe in the 1st quarter worth approximately $34,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. BMO Capital Markets dropped their target price on Adobe from $450.00 to $405.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating for the company in a report on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a report on Wednesday. Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Friday, September 12th. Finally, Mizuho cut Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $433.41.

Adobe Trading Down 2.9%

ADBE stock opened at $337.51 on Friday. The business has a fifty day moving average price of $351.67 and a 200 day moving average price of $370.78. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The stock has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.56 and a beta of 1.49. 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 results on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. During the same period last year, the firm posted $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.