Everence Capital Management Inc. Sells 1,310 Shares of Adeia Inc. (NASDAQ:ADEA)

Everence Capital Management Inc. decreased its holdings in Adeia Inc. (NASDAQ:ADEAFree Report) by 8.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,401 shares of the company’s stock after selling 1,310 shares during the period. Everence Capital Management Inc.’s holdings in Adeia were worth $187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after purchasing an additional 91,288 shares during the last quarter. Harvey Partners LLC increased its stake in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after buying an additional 168,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after acquiring an additional 159,254 shares in the last quarter. Geode Capital Management LLC lifted its stake in Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after acquiring an additional 78,135 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in Adeia by 17.0% in the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock valued at $25,728,000 after acquiring an additional 313,741 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Trading Down 1.9 %

Shares of ADEA stock opened at $13.60 on Friday. The stock has a fifty day simple moving average of $13.06 and a two-hundred day simple moving average of $12.16. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The firm has a market capitalization of $1.49 billion, a PE ratio of 37.78 and a beta of 1.39. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.47%. Adeia’s dividend payout ratio is presently 55.56%.

Wall Street Analyst Weigh In

ADEA has been the subject of several research reports. BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Wednesday, December 4th. Rosenblatt Securities lifted their price objective on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 12th.

Get Our Latest Stock Analysis on Adeia

Adeia Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adeia (NASDAQ:ADEA)

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