Segment Wealth Management LLC Grows Stake in Adobe Inc. $ADBE

Segment Wealth Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 17.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,946 shares of the software company’s stock after acquiring an additional 594 shares during the period. Segment Wealth Management LLC’s holdings in Adobe were worth $1,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. 1248 Management LLC purchased a new position in shares of Adobe during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Adobe in the first quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in Adobe in the first quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in Adobe in the first quarter worth approximately $30,000. Finally, Garde Capital Inc. purchased a new stake in shares of Adobe during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADBE shares. Morgan Stanley lowered Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $520.00 to $450.00 in a report on Wednesday, September 24th. Wall Street Zen raised Adobe from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Citigroup cut their price target on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Piper Sandler cut their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Hold” and an average price target of $433.41.

Adobe Trading Down 1.3%

Shares of Adobe stock opened at $346.74 on Friday. 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 firm’s 50-day moving average price is $353.22 and its 200 day moving average price is $372.37. Adobe Inc. has a twelve month low of $330.04 and a twelve month high of $557.90. The firm has a market capitalization of $145.15 billion, a PE ratio of 21.60, a P/E/G ratio of 1.58 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 for the quarter, topping 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 business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.91 billion. During the same period last year, the company posted $4.65 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, sell-side 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.