Hendley & Co. Inc. Increases Stock Position in Adobe Inc. $ADBE

Hendley & Co. Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,045 shares of the software company’s stock after purchasing an additional 168 shares during the quarter. Adobe comprises approximately 1.6% of Hendley & Co. Inc.’s portfolio, making the stock its 20th biggest holding. Hendley & Co. Inc.’s holdings in Adobe were worth $4,660,000 as of its most recent SEC filing.

Other large 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 approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Adobe during the first quarter worth approximately $26,000. Flaharty Asset Management LLC purchased a new position in shares of Adobe during the first quarter worth approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe during the first quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new position in shares of Adobe during the first quarter worth approximately $34,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on ADBE. Wells Fargo & Company reissued an “overweight” rating and set a $470.00 price target (up from $430.00) on shares of Adobe in a research note on Friday, June 13th. DA Davidson restated a “buy” rating and issued a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Royal Bank Of Canada cut their target price on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Stifel Nicolaus cut their target price on shares of Adobe from $525.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, June 13th. Finally, TD Cowen cut their target price on shares of Adobe from $470.00 to $420.00 and set a “hold” rating on the stock in a report on Friday, September 12th. One equities 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 given a Sell rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Performance

NASDAQ:ADBE opened at $348.31 on Wednesday. The stock has a market cap of $145.80 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.57 and a beta of 1.49. The firm’s fifty day simple moving average is $352.39 and its 200 day simple moving average is $371.72. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. 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, beating the consensus estimate of $5.18 by $0.13. The business had revenue of $5.99 billion for 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 firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS 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.