TD Asset Management Inc Acquires 53,835 Shares of Adobe Inc. $ADBE

TD Asset Management Inc boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,304 shares of the software company’s stock after buying an additional 53,835 shares during the quarter. TD Asset Management Inc’s holdings in Adobe were worth $243,852,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Schmidt P J Investment Management Inc. raised its holdings in Adobe by 2.9% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 896 shares of the software company’s stock valued at $344,000 after buying an additional 25 shares during the last quarter. GS Investments Inc. raised its holdings in Adobe by 0.3% during the 1st quarter. GS Investments Inc. now owns 7,563 shares of the software company’s stock worth $2,901,000 after purchasing an additional 26 shares during the last quarter. Ted Buchan & Co raised its holdings in Adobe by 1.9% during the 1st quarter. Ted Buchan & Co now owns 1,368 shares of the software company’s stock worth $525,000 after purchasing an additional 26 shares during the last quarter. Lifeworks Advisors LLC raised its holdings in Adobe by 3.6% during the 1st quarter. Lifeworks Advisors LLC now owns 786 shares of the software company’s stock worth $301,000 after purchasing an additional 27 shares during the last quarter. Finally, VanderPol Investments L.L.C. raised its holdings in Adobe by 5.2% during the 1st quarter. VanderPol Investments L.L.C. now owns 546 shares of the software company’s stock worth $209,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $339.32 on Tuesday. The company has a fifty day simple moving average of $351.68 and a 200 day simple moving average of $370.09. 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. The company has a market cap of $142.04 billion, a P/E ratio of 21.14, a PEG ratio of 1.51 and a beta of 1.49.

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, beating the consensus estimate of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.91 billion. During the same quarter last year, the firm posted $4.65 EPS. Adobe’s revenue was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Friday, September 5th. DA Davidson restated a “buy” rating and set a $500.00 price target on shares of Adobe in a report on Friday, September 12th. UBS Group lowered their price target on shares of Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Finally, Barclays raised their price target on shares of Adobe from $460.00 to $465.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus target price of $433.41.

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.