Ameriprise Financial Inc. Has $190.53 Million Position in Adeia Inc. $ADEA

Key Points

• Ameriprise Financial Inc. has reduced its stake in Adeia Inc. by 1.7%, owning approximately 14.4 million shares valued at $190.5 million after selling 245,003 shares.
• Various institutional investors, including Ritholtz Wealth Management and GAMMA Investing LLC, have also adjusted their holdings in Adeia, with institutional ownership now totaling 97.36%.
• Adeia recently announced a quarterly dividend of $0.05 per share, yielding an annualized rate of 1.3%, with the ex-dividend date on August 26th.

Ameriprise Financial Inc. lessened its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,411,976 shares of the company's stock after selling 245,003 shares during the quarter. Ameriprise Financial Inc. owned approximately 13.28% of Adeia worth $190,531,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC acquired a new stake in Adeia during the fourth quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Adeia during the first quarter worth about $43,000. Brooklyn Investment Group acquired a new stake in Adeia during the first quarter worth about $44,000. GAMMA Investing LLC raised its stake in Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after acquiring an additional 1,611 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after acquiring an additional 1,062 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Price Performance

Shares of NASDAQ:ADEA traded up $0.20 on Wednesday, reaching $15.56. 503,461 shares of the company traded hands, compared to its average volume of 584,989. The stock has a market capitalization of $1.70 billion, a PE ratio of 21.03 and a beta of 1.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. The company's 50 day moving average is $14.11 and its 200-day moving average is $13.65. Adeia Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.46.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Adeia's dividend payout ratio (DPR) is currently 27.03%.

Wall Street Analyst Weigh In

ADEA has been the topic of several research reports. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price objective on shares of Adeia in a research note on Tuesday, May 6th. Wall Street Zen lowered shares of Adeia from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Adeia to a "strong-buy" rating in a research note on Friday, August 8th. BWS Financial restated a "buy" rating and issued a $18.00 price target on shares of Adeia in a research note on Wednesday, August 6th. Finally, Roth Capital initiated coverage on shares of Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.50.

About Adeia

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.