Morton Brown Family Wealth LLC Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Morton Brown Family Wealth LLC purchased a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,550 shares of the Wireless communications provider's stock, valued at approximately $300,000.

Several other large investors also recently modified their holdings of IDCC. Congress Asset Management Co. bought a new stake in shares of InterDigital in the fourth quarter worth about $62,583,000. Reinhart Partners LLC. increased its holdings in shares of InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock worth $69,785,000 after acquiring an additional 164,223 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of InterDigital by 283,160.0% in the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after acquiring an additional 113,264 shares in the last quarter. Emerald Advisers LLC increased its holdings in shares of InterDigital by 50.3% in the third quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider's stock worth $25,633,000 after acquiring an additional 60,575 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of InterDigital by 28.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider's stock worth $30,420,000 after buying an additional 48,137 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Richard Brezski sold 9,602 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the transaction, the chief financial officer now directly owns 102,555 shares of the company's stock, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the transaction, the insider now directly owns 30,537 shares of the company's stock, valued at $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,134 shares of company stock worth $4,678,770. 2.30% of the stock is owned by corporate insiders.

InterDigital Stock Down 2.6 %

Shares of NASDAQ:IDCC traded down $5.60 during mid-day trading on Friday, reaching $211.40. 315,962 shares of the stock were exchanged, compared to its average volume of 395,578. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market cap of $5.43 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a one year low of $95.33 and a one year high of $218.76. The stock's 50 day simple moving average is $192.19 and its 200-day simple moving average is $168.91.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. InterDigital's dividend payout ratio (DPR) is presently 14.95%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded InterDigital from a "buy" rating to a "hold" rating in a report on Monday, November 4th.

InterDigital Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.