Axxcess Wealth Management LLC Increases Stock Position in Adobe Inc. $ADBE

Axxcess Wealth Management LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 17.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,398 shares of the software company’s stock after purchasing an additional 639 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Adobe were worth $1,701,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock valued at $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its holdings in Adobe by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,530,611 shares of the software company’s stock worth $2,504,685,000 after purchasing an additional 821,293 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Adobe by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,468,383 shares of the software company’s stock worth $2,097,289,000 after purchasing an additional 126,688 shares in the last quarter. Amundi raised its holdings in Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after purchasing an additional 961,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Adobe by 68.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock worth $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Adobe in a report on Wednesday, October 8th. Rothschild & Co Redburn lowered shares of Adobe from a “neutral” rating to a “sell” rating and set a $280.00 price objective for the company. in a report on Wednesday, July 2nd. TD Cowen decreased their price objective on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a report on Friday, September 12th. Mizuho lowered shares of Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $450.00 in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $433.41.

Adobe Stock Down 1.6%

Shares of Adobe stock opened at $330.63 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average of $351.33 and a 200 day moving average of $369.58. The firm has a market cap of $138.40 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.51 and a beta of 1.49. Adobe Inc. has a 1 year low of $329.20 and a 1 year high of $557.90.

Adobe (NASDAQ:ADBE) last released 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. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. Adobe’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $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. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.