IVC Wealth Advisors LLC Reduces Stock Position in Adobe Inc. $ADBE

IVC Wealth Advisors LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 4.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,434 shares of the software company’s stock after selling 151 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Adobe were worth $1,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gemmer Asset Management LLC boosted its holdings in Adobe by 8.4% in the second quarter. Gemmer Asset Management LLC now owns 1,643 shares of the software company’s stock worth $636,000 after purchasing an additional 128 shares during the last quarter. Marietta Wealth Management LLC boosted its stake in shares of Adobe by 3.1% during the 2nd quarter. Marietta Wealth Management LLC now owns 21,996 shares of the software company’s stock worth $8,510,000 after acquiring an additional 670 shares during the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of Adobe by 162.3% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 160 shares of the software company’s stock worth $62,000 after acquiring an additional 99 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of Adobe by 85.4% during the 2nd quarter. Simplicity Wealth LLC now owns 4,840 shares of the software company’s stock worth $1,872,000 after acquiring an additional 2,229 shares during the last quarter. Finally, Chemung Canal Trust Co. boosted its stake in shares of Adobe by 4.0% during the 2nd quarter. Chemung Canal Trust Co. now owns 3,502 shares of the software company’s stock worth $1,355,000 after acquiring an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $346.74 on Friday. The company’s 50-day moving average price is $353.22 and its 200-day moving average price is $372.26. 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. The company has a market cap of $145.15 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted 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 firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business’s quarterly 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, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADBE shares. BMO Capital Markets dropped their price target on shares of Adobe from $450.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, September 12th. Mizuho cut shares of Adobe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Royal Bank Of Canada dropped their price target on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $470.00 price target (up previously from $430.00) on shares of Adobe in a research note on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One 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 issued a Sell rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Hold” and a consensus target price of $433.41.

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.