Alta Wealth Advisors LLC Has $512,000 Stock Holdings in Adobe Inc. $ADBE

Alta Wealth Advisors LLC cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.4% in the second quarter, Holdings Channel.com reports. The fund owned 1,325 shares of the software company’s stock after selling 121 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Adobe were worth $512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Schmidt P J Investment Management Inc. lifted its stake in shares of Adobe by 2.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock worth $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. lifted its stake in shares of Adobe by 0.3% in the first quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after buying an additional 26 shares during the last quarter. Ted Buchan & Co lifted its stake in shares of Adobe by 1.9% in the first quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after buying an additional 26 shares during the last quarter. Lifeworks Advisors LLC lifted its stake in shares of Adobe by 3.6% in the first quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after buying an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. lifted its stake in shares of Adobe by 5.2% in the first quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after buying an additional 27 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $470.00 price objective (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. Bank of America boosted their target price on shares of Adobe from $424.00 to $475.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. DA Davidson reaffirmed a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Oppenheimer dropped their target price on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. Finally, Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Down 1.3%

ADBE opened at $346.74 on Friday. The firm’s 50-day simple moving average is $353.22 and its 200-day simple moving average is $372.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The firm has a market cap of $145.15 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company 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 research analysts anticipate 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.