PBMares Wealth Management LLC Has $416,000 Stock Holdings in Adobe Inc. $ADBE

PBMares Wealth Management LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 24.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075 shares of the software company’s stock after selling 347 shares during the quarter. PBMares Wealth Management LLC’s holdings in Adobe were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Adobe in the 1st quarter valued at about $26,000. Flaharty Asset Management LLC bought a new stake in Adobe in the 1st quarter valued at about $29,000. HHM Wealth Advisors LLC bought a new stake in Adobe in the 1st quarter valued at about $30,000. Finally, Garde Capital Inc. bought a new stake in Adobe in the 1st quarter valued at about $34,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ADBE. DA Davidson reaffirmed a “buy” rating and issued a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price for the company. in a research report on Monday, August 11th. Redburn Atlantic lowered Adobe from a “hold” rating to a “strong sell” rating and decreased their target price for the company from $420.00 to $280.00 in a research report on Wednesday, July 2nd. Citigroup decreased their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, Oppenheimer decreased their target price on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.41.

Adobe Stock Performance

Shares of ADBE opened at $352.75 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $354.68 and a two-hundred day moving average price of $373.21. The firm has a market capitalization of $147.66 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.61 and a beta of 1.48. Adobe Inc. has a 52 week low of $330.04 and a 52 week high of $557.90.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $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 analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.