Beacon Harbor Wealth Advisors Inc. Invests $7.06 Million in InterDigital, Inc. (NASDAQ:IDCC)

Beacon Harbor Wealth Advisors Inc. bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 36,453 shares of the Wireless communications provider's stock, valued at approximately $7,062,000. InterDigital comprises about 1.6% of Beacon Harbor Wealth Advisors Inc.'s investment portfolio, making the stock its 23rd biggest holding. Beacon Harbor Wealth Advisors Inc. owned approximately 0.14% of InterDigital as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new stake in shares of InterDigital during the 3rd quarter valued at $1,427,000. Flagship Harbor Advisors LLC acquired a new position in InterDigital in the fourth quarter valued at $338,000. Kovitz Investment Group Partners LLC purchased a new stake in InterDigital during the third quarter valued at about $380,000. Reinhart Partners LLC. increased its stake in InterDigital by 83.8% during 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 during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of InterDigital in the 3rd quarter worth about $568,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Trading Down 2.2 %

Shares of NASDAQ IDCC traded down $4.74 during midday trading on Monday, hitting $210.54. The stock had a trading volume of 387,424 shares, compared to its average volume of 391,812. The company has a fifty day moving average price of $195.60 and a 200 day moving average price of $174.46. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $231.96. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02.

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InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.14%. This is a boost from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital's dividend payout ratio is 19.93%.

Insider Activity at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the sale, the chief executive officer now owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,134 shares of company stock worth $4,678,770. Corporate insiders own 2.30% of the company's stock.

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.