Congress Wealth Management LLC DE Buys Shares of 44,240 InterDigital, Inc. (NASDAQ:IDCC)

Congress Wealth Management LLC DE purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,240 shares of the Wireless communications provider's stock, valued at approximately $8,570,000. Congress Wealth Management LLC DE owned about 0.17% of InterDigital as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of IDCC. Global Retirement Partners LLC raised its holdings in InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after purchasing an additional 111 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock valued at $57,000 after buying an additional 290 shares during the period. R Squared Ltd bought a new position in InterDigital during the fourth quarter valued at about $70,000. Smartleaf Asset Management LLC grew its holdings in InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider's stock worth $121,000 after acquiring an additional 511 shares during the period. Finally, TD Private Client Wealth LLC raised its position in InterDigital by 22.9% in the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

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Insider Transactions at InterDigital

In other InterDigital news, CFO Richard Brezski sold 9,602 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now directly owns 102,555 shares of the company's stock, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of InterDigital stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the completion of the transaction, the insider now directly owns 30,537 shares in the company, valued at approximately $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,833 shares of company stock valued at $2,954,830 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

InterDigital Price Performance

Shares of NASDAQ:IDCC traded down $5.01 during trading hours on Friday, hitting $210.04. 225,721 shares of the company's stock traded hands, compared to its average volume of 425,688. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The company's fifty day simple moving average is $204.34 and its two-hundred day simple moving average is $182.80. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.97. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. This is a boost from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is currently 19.93%.

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.