Meridian Wealth Advisors LLC Acquires 162 Shares of Adobe Inc. $ADBE

Meridian Wealth Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,075 shares of the software company’s stock after buying an additional 162 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Adobe were worth $3,898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Adobe by 0.4% in 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 purchasing an additional 171,547 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 acquiring an additional 126,688 shares in the last quarter. Amundi lifted its stake in shares of Adobe by 24.7% in the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock valued at $1,782,642,000 after purchasing an additional 961,895 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Adobe by 68.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,575,792 shares of the software company’s stock valued at $1,754,954,000 after purchasing an additional 1,856,544 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Adobe by 6.8% during the first quarter. Deutsche Bank AG now owns 3,735,509 shares of the software company’s stock worth $1,432,680,000 after purchasing an additional 238,542 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on ADBE shares. Piper Sandler dropped their price target on Adobe from $500.00 to $470.00 and set an “overweight” rating on the stock in a research note on Friday, September 12th. BMO Capital Markets reiterated an “outperform” rating and set a $405.00 target price on shares of Adobe in a research report on Wednesday, October 29th. Wall Street Zen lowered shares of Adobe from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley downgraded shares of Adobe from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $520.00 to $450.00 in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada dropped their price objective on shares of Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $428.96.

Adobe Stock Performance

ADBE opened at $324.19 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 company’s fifty day moving average price is $343.44 and its two-hundred day moving average price is $365.22. Adobe Inc. has a 1-year low of $311.58 and a 1-year high of $557.90. The company has a market cap of $135.71 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.91 billion. Adobe had a net margin of 30.01% and a return on equity of 57.54%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 149 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $337.88, for a total transaction of $50,344.12. Following the completion of the sale, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at approximately $1,157,576.88. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.