Axxcess Wealth Management LLC Acquires New Position in InterDigital, Inc. (NASDAQ:IDCC)

Axxcess Wealth Management LLC acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,322 shares of the Wireless communications provider's stock, valued at approximately $1,225,000.

A number of other large investors have also recently made changes to their positions in the stock. Natixis Advisors LLC acquired a new stake in InterDigital during the 3rd quarter valued at approximately $1,427,000. Caprock Group LLC lifted its position in InterDigital by 8.9% during the third quarter. Caprock Group LLC now owns 3,156 shares of the Wireless communications provider's stock valued at $447,000 after purchasing an additional 257 shares during the period. Moran Wealth Management LLC boosted its holdings in InterDigital by 37.9% in the third quarter. Moran Wealth Management LLC now owns 3,956 shares of the Wireless communications provider's stock valued at $560,000 after purchasing an additional 1,087 shares during the last quarter. Intech Investment Management LLC grew its position in InterDigital by 658.8% during the 3rd quarter. Intech Investment Management LLC now owns 29,728 shares of the Wireless communications provider's stock worth $4,210,000 after purchasing an additional 25,810 shares during the period. Finally, Icon Wealth Advisors LLC grew its position in InterDigital by 161.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 9,140 shares of the Wireless communications provider's stock worth $1,294,000 after purchasing an additional 5,640 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

InterDigital Stock Performance

Shares of IDCC stock traded up $4.12 on Tuesday, hitting $225.72. The company had a trading volume of 258,680 shares, compared to its average volume of 413,749. The firm has a market cap of $5.80 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $231.97. The company has a 50-day moving average price of $200.81 and a 200-day moving average price of $180.71. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is currently 19.93%.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $218.08, for a total value of $152,656.00. Following the completion of the transaction, the chief technology officer now owns 71,606 shares in the company, valued at $15,615,836.48. The trade was a 0.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction dated 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 directly owns 30,537 shares of the company's stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833 shares of company stock valued at $2,954,830 in the last 90 days. 2.30% of the stock is currently owned by company 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.