Advisors Preferred LLC Invests $1.62 Million in InterDigital, Inc. (NASDAQ:IDCC)

Advisors Preferred LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,257 shares of the Wireless communications provider's stock, valued at approximately $1,619,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDCC. The Manufacturers Life Insurance Company grew its stake in InterDigital by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider's stock valued at $1,643,000 after acquiring an additional 153 shares during the last quarter. Truist Financial Corp grew its position in InterDigital by 1.5% in the second quarter. Truist Financial Corp now owns 22,149 shares of the Wireless communications provider's stock valued at $2,582,000 after acquiring an additional 322 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of InterDigital during the second quarter worth about $596,000. SG Americas Securities LLC acquired a new stake in InterDigital in the third quarter valued at $417,000. Finally, Handelsbanken Fonder AB lifted its holdings in InterDigital by 29.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,030 shares of the Wireless communications provider's stock worth $996,000 after buying an additional 1,600 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

InterDigital Price Performance

NASDAQ IDCC traded up $2.52 on Wednesday, reaching $210.14. The company's stock had a trading volume of 398,230 shares, compared to its average volume of 407,308. The firm has a market cap of $5.32 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44. The business has a 50-day moving average price of $189.29 and a 200 day moving average price of $164.97. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $213.38. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given 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 yield of 1.14%. InterDigital's dividend payout ratio is presently 14.95%.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the transaction, the chief technology officer now owns 52,396 shares in the company, valued at approximately $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,322 shares of company stock valued at $2,562,751. 2.30% of the stock is currently owned by insiders.

InterDigital Company 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.