Algert Global LLC Sells 10,530 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Algert Global LLC reduced its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 68.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,878 shares of the Wireless communications provider's stock after selling 10,530 shares during the quarter. Algert Global LLC's holdings in InterDigital were worth $691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC purchased a new position in shares of InterDigital in the 3rd quarter worth about $1,427,000. Ritholtz Wealth Management boosted its holdings in shares of InterDigital by 16.1% in the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider's stock worth $3,445,000 after buying an additional 3,381 shares during the last quarter. Olympiad Research LP purchased a new position in shares of InterDigital in the 3rd quarter worth about $475,000. Wealth Enhancement Advisory Services LLC purchased a new stake in InterDigital during the third quarter valued at about $568,000. Finally, Capital CS Group LLC purchased a new stake in InterDigital during the third quarter valued at about $502,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Trading Down 0.2 %

Shares of InterDigital stock opened at $195.96 on Friday. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $199.79. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.82 and a beta of 1.38. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $161.70 and its 200-day moving average price is $137.10.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital's dividend payout ratio is presently 19.23%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a report on Monday, November 4th.

Insider Transactions at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is currently owned by corporate 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.