Bank of Montreal Can Sells 4,392,273 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Bank of Montreal Can reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 97.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 107,009 shares of the Wireless communications provider's stock after selling 4,392,273 shares during the period. Bank of Montreal Can owned approximately 0.42% of InterDigital worth $20,730,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Boston Partners raised its holdings in shares of InterDigital by 5.5% during the fourth quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock worth $311,654,000 after acquiring an additional 83,794 shares during the period. Geode Capital Management LLC increased its holdings in InterDigital by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock worth $115,240,000 after purchasing an additional 1,991 shares in the last quarter. Reinhart Partners LLC. raised its stake in shares of InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after purchasing an additional 164,223 shares during the period. Congress Asset Management Co. bought a new stake in shares of InterDigital in the fourth quarter valued at about $62,583,000. Finally, Wellington Management Group LLP boosted its position in shares of InterDigital by 6.0% during the third quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider's stock worth $22,052,000 after buying an additional 8,824 shares during the period. Institutional investors own 99.83% of the company's stock.

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Insider Activity

In related news, CFO Richard Brezski sold 9,602 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the transaction, the chief financial officer now owns 102,555 shares of the company's stock, valued at approximately $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the business's 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 sale, the chief technology officer now directly owns 52,396 shares in the company, valued at $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,833 shares of company stock worth $2,938,660 over the last ninety days. Insiders own 2.30% of the company's stock.

InterDigital Stock Up 0.6 %

Shares of NASDAQ:IDCC traded up $1.17 during mid-day trading on Tuesday, reaching $202.93. 202,893 shares of the stock were exchanged, compared to its average volume of 414,315. The company has a market cap of $5.21 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.57 and a beta of 1.44. The stock's 50 day simple moving average is $210.03 and its 200-day simple moving average is $188.60. 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, Inc. has a one year low of $95.36 and a one year high of $231.97.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date 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 dividend yield of 1.18%. InterDigital's dividend payout ratio (DPR) is 19.93%.

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.