Wealth Enhancement Advisory Services LLC Purchases New Position in InterDigital, Inc. (NASDAQ:IDCC)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,013 shares of the Wireless communications provider's stock, valued at approximately $568,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in InterDigital during the 3rd quarter worth $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of InterDigital during the second quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock worth $43,000 after buying an additional 124 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after acquiring an additional 109 shares during the last quarter. Finally, CWM LLC lifted its position in shares of InterDigital by 41.7% during the second quarter. CWM LLC now owns 635 shares of the Wireless communications provider's stock worth $74,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday. Roth Mkm lifted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th.

InterDigital Price Performance

Shares of IDCC stock traded up $3.82 on Friday, hitting $183.07. 329,007 shares of the company's stock were exchanged, compared to its average volume of 459,622. The company has a 50 day moving average of $145.85 and a 200 day moving average of $128.19. The stock has a market cap of $4.64 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 12 month low of $85.36 and a 12 month high of $184.25.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.40. InterDigital's payout ratio is 19.23%.

Insider Activity

In related news, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the transaction, the director now directly owns 7,639 shares of the company's stock, valued at $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company's stock, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,205 shares of company stock valued at $716,218. Company insiders own 2.30% of the company's stock.

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.