Adeia Inc. $ADEA Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Adeia Inc. by 1.7%, now owning approximately 1.11% of the company, which is valued at $15.96 million.
• Adeia has recently declared a quarterly dividend of $0.05, representing an annualized dividend of $0.20 with a yield of 1.3%.
• Analyst ratings for Adeia show a mix of opinions, with Wall Street Zen downgrading it from "buy" to "hold," while other firms maintain a "buy" rating with an average price target of $19.50.

Northern Trust Corp decreased its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,207,599 shares of the company's stock after selling 20,388 shares during the quarter. Northern Trust Corp owned approximately 1.11% of Adeia worth $15,964,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ADEA. Envestnet Asset Management Inc. grew its stake in Adeia by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company's stock valued at $272,000 after acquiring an additional 989 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Adeia by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,170 shares of the company's stock valued at $1,359,000 after acquiring an additional 7,957 shares in the last quarter. Voya Investment Management LLC grew its stake in Adeia by 40.8% during the 4th quarter. Voya Investment Management LLC now owns 51,431 shares of the company's stock valued at $719,000 after acquiring an additional 14,902 shares in the last quarter. AXA S.A. grew its stake in Adeia by 11.4% during the 4th quarter. AXA S.A. now owns 184,353 shares of the company's stock valued at $2,577,000 after acquiring an additional 18,819 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after acquiring an additional 874,098 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Analysts Set New Price Targets

ADEA has been the subject of several research reports. Zacks Research raised shares of Adeia to a "strong-buy" rating in a research note on Friday, August 8th. Roth Capital assumed coverage on shares of Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 target price on the stock. Wall Street Zen lowered shares of Adeia from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $19.50.

Adeia Trading Up 0.1%

Shares of ADEA stock traded up $0.02 during trading hours on Friday, hitting $15.43. The company had a trading volume of 328,618 shares, compared to its average volume of 580,842. The company's fifty day moving average is $14.33 and its 200 day moving average is $13.74. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. Adeia Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.46. The stock has a market capitalization of $1.69 billion, a PE ratio of 20.85 and a beta of 1.74.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 26th. Adeia's dividend payout ratio is currently 27.03%.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.