JGP Wealth Management LLC Grows Stock Position in Adobe Inc. $ADBE

JGP Wealth Management LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,073 shares of the software company’s stock after purchasing an additional 152 shares during the quarter. JGP Wealth Management LLC’s holdings in Adobe were worth $802,000 at the end of the most recent quarter.

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

Adobe Price Performance

Shares of NASDAQ ADBE opened at $335.94 on Wednesday. Adobe Inc. has a fifty-two week low of $330.04 and a fifty-two week high of $557.90. The business has a 50 day moving average price of $351.63 and a two-hundred day moving average price of $369.85. 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 firm has a market cap of $140.62 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, September 11th. The software company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter last year, the firm earned $4.65 EPS. Adobe’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. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADBE. Melius downgraded Adobe from a “hold” rating to a “sell” rating and set a $310.00 target price on the stock. in a report on Monday, August 11th. DA Davidson reiterated a “buy” rating and set a $500.00 target price on shares of Adobe in a report on Friday, September 12th. Piper Sandler dropped their target price on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a report on Friday, September 12th. Citigroup dropped their target price on Adobe from $450.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. Finally, Evercore ISI dropped their target price on Adobe from $475.00 to $450.00 and set an “outperform” rating on the stock in a report on Friday, September 12th. One 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 issued a Sell rating to the company’s stock. According to MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

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.