Congress Asset Management Co. Invests $62.58 Million in InterDigital, Inc. (NASDAQ:IDCC)

Congress Asset Management Co. acquired a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 323,061 shares of the Wireless communications provider's stock, valued at approximately $62,583,000. Congress Asset Management Co. owned 1.27% of InterDigital as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in InterDigital by 0.9% during the 4th quarter. Rhumbline Advisers now owns 75,604 shares of the Wireless communications provider's stock worth $14,646,000 after acquiring an additional 646 shares during the period. Blue Trust Inc. grew its holdings in InterDigital by 27.1% during the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the Wireless communications provider's stock valued at $289,000 after buying an additional 319 shares in the last quarter. Retirement Guys Formula LLC purchased a new stake in InterDigital during the 4th quarter valued at approximately $244,000. Louisiana State Employees Retirement System grew its holdings in InterDigital by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider's stock valued at $2,383,000 after buying an additional 100 shares in the last quarter. Finally, Leavell Investment Management Inc. grew its holdings in InterDigital by 9.1% during the 4th quarter. Leavell Investment Management Inc. now owns 1,784 shares of the Wireless communications provider's stock valued at $346,000 after buying an additional 149 shares in the last quarter. Institutional investors own 99.83% of the company's stock.

InterDigital Price Performance

Shares of IDCC stock traded down $0.01 on Wednesday, reaching $217.28. The company's stock had a trading volume of 280,686 shares, compared to its average volume of 402,628. The stock's fifty day simple moving average is $190.97 and its 200-day simple moving average is $167.70. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $218.20. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. InterDigital's dividend payout ratio (DPR) is 14.95%.

Analyst Ratings Changes

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

Insider Activity at InterDigital

In other InterDigital news, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the transaction, the chief executive officer now directly owns 158,652 shares of the company's stock, valued at $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company's stock, valued at $10,818,277.61. The trade was a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,182 shares of company stock valued at $2,537,245. 2.30% of the stock is owned by corporate insiders.

About InterDigital

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.