Callahan Advisors LLC Boosts Holdings in Adobe Inc. $ADBE

by · The Markets Daily

Callahan Advisors LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE – Free Report) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,219 shares of the software company’s stock after buying an additional 3,599 shares during the quarter. Callahan Advisors LLC’s holdings in Adobe were worth $8,983,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new position in shares of Adobe in the first quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Adobe in the first quarter worth approximately $26,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the first quarter worth approximately $29,000. HHM Wealth Advisors LLC bought a new position in shares of Adobe in the first quarter worth approximately $30,000. Finally, Nexus Investment Management ULC bought a new position in shares of Adobe in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. Morgan Stanley lowered shares of Adobe from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $450.00 in a research report on Wednesday, September 24th. TD Cowen dropped their price target on shares of Adobe from $470.00 to $420.00 and set a “hold” rating for the company in a research report on Friday, September 12th. DA Davidson restated a “buy” rating and set a $500.00 target price on shares of Adobe in a research report on Friday, September 12th. Finally, Redburn Partners set a $280.00 target price on shares of Adobe in a research report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of “Hold” and a consensus target price of $433.41.

Check Out Our Latest Research Report on ADBE

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $330.63 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average price of $351.33 and a 200 day moving average price of $369.58. Adobe Inc. has a fifty-two week low of $329.20 and a fifty-two week high of $557.90. The firm has a market cap of $138.40 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 1.51 and a beta of 1.49.

Adobe (NASDAQ:ADBE – Get Free Report) last released its quarterly 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. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm 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. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

(Free Report)

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.

Further Reading

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