Hazlett Burt & Watson Inc. Sells 420 Shares of Adobe Inc. $ADBE

Hazlett Burt & Watson Inc. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 30.4% during the second quarter, HoldingsChannel reports. The firm owned 961 shares of the software company’s stock after selling 420 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Adobe were worth $373,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Adobe during the first quarter worth about $26,000. Flaharty Asset Management LLC acquired a new stake in Adobe during the first quarter worth about $29,000. HHM Wealth Advisors LLC acquired a new stake in Adobe during the first quarter worth about $30,000. Finally, Garde Capital Inc. acquired a new stake in Adobe during the first quarter worth about $34,000. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 2.9%

NASDAQ ADBE opened at $337.51 on Monday. 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 stock’s 50 day moving average is $351.67 and its two-hundred day moving average is $370.41. The company has a market capitalization of $141.28 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 1-year low of $330.04 and a 1-year high of $557.90.

Adobe (NASDAQ:ADBE) last posted 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 during the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. Adobe’s quarterly 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. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Redburn Partners set a $280.00 target price on Adobe in a research report on Monday, September 1st. 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. Piper Sandler decreased their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research report on Friday, September 12th. Finally, DA Davidson reaffirmed a “buy” rating and set a $500.00 price objective on shares of Adobe in a report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.