Family Investment Center Inc. Purchases Shares of 676 Adobe Inc. $ADBE

Family Investment Center Inc. purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 676 shares of the software company’s stock, valued at approximately $262,000.

A number of other large investors also recently bought and sold shares of ADBE. Vanguard Group Inc. raised its stake in shares of Adobe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 41,143,835 shares of the software company’s stock worth $15,779,895,000 after buying an additional 171,547 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Adobe by 14.4% during 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 buying an additional 821,293 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Adobe by 2.4% during 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 buying an additional 126,688 shares during the period. Amundi raised its stake in shares of Adobe by 24.7% during the 1st quarter. Amundi now owns 4,848,521 shares of the software company’s stock worth $1,782,642,000 after buying an additional 961,895 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake 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 worth $1,754,954,000 after buying an additional 1,856,544 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Phillip Securities raised Adobe from a “moderate sell” rating to a “strong-buy” rating in a research note on Monday, June 16th. Oppenheimer reduced their price objective on Adobe from $500.00 to $460.00 and set an “outperform” rating for the company in a research note on Tuesday, September 9th. Bank of America increased their price objective on Adobe from $424.00 to $475.00 and gave the company a “buy” rating in a research note on Friday, June 13th. UBS Group reduced their price objective on Adobe from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Friday, September 12th. Finally, Barclays increased their price objective on Adobe from $460.00 to $465.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $435.63.

Adobe Trading Down 0.5%

NASDAQ:ADBE opened at $364.08 on Tuesday. The stock’s 50 day moving average price is $355.82 and its 200 day moving average price is $375.39. The company has a market capitalization of $154.44 billion, a PE ratio of 22.68, a P/E/G ratio of 1.64 and a beta of 1.48. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. Adobe Inc. has a 52-week low of $330.04 and a 52-week high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $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. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

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.