Opes Wealth Management LLC Has $436,000 Stock Position in Adobe Inc. $ADBE

Opes Wealth Management LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 10.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,128 shares of the software company’s stock after selling 131 shares during the quarter. Opes Wealth Management LLC’s holdings in Adobe were worth $436,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. 180 Wealth Advisors LLC grew its holdings in shares of Adobe by 5.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 2,036 shares of the software company’s stock worth $788,000 after purchasing an additional 103 shares in the last quarter. Smith Group Asset Management LLC grew its holdings in shares of Adobe by 3.8% during the 2nd quarter. Smith Group Asset Management LLC now owns 50,194 shares of the software company’s stock worth $19,419,000 after purchasing an additional 1,841 shares in the last quarter. FSM Wealth Advisors LLC grew its holdings in shares of Adobe by 1.1% during the 2nd quarter. FSM Wealth Advisors LLC now owns 2,644 shares of the software company’s stock worth $997,000 after purchasing an additional 30 shares in the last quarter. KPP Advisory Services LLC grew its holdings in shares of Adobe by 6.7% during the 2nd quarter. KPP Advisory Services LLC now owns 1,216 shares of the software company’s stock worth $470,000 after purchasing an additional 76 shares in the last quarter. Finally, Roman Butler Fullerton & Co. grew its holdings in shares of Adobe by 1.1% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 3,008 shares of the software company’s stock worth $1,115,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Mizuho lowered Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. UBS Group decreased their price target on Adobe from $400.00 to $375.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Wall Street Zen lowered Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and decreased their price target for the company from $420.00 to $280.00 in a research note on Wednesday, July 2nd. Finally, Citigroup decreased their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $433.41.

Adobe Trading Up 0.0%

Shares of ADBE opened at $354.12 on Friday. The stock has a fifty day moving average price of $351.74 and a two-hundred day moving average price of $368.63. 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 52-week low of $327.50 and a 52-week high of $557.90. The company has a market cap of $148.23 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.59 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the company posted $4.65 EPS. The company’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. Analysts predict 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.