Federated Hermes Inc. Decreases Stake in InterDigital, Inc. (NASDAQ:IDCC)

Federated Hermes Inc. decreased its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,527 shares of the Wireless communications provider's stock after selling 3,212 shares during the quarter. Federated Hermes Inc. owned 0.27% of InterDigital worth $13,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC boosted its position 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. Prudent Man Investment Management Inc. purchased a new stake in shares of InterDigital in the 4th quarter worth about $39,000. Mendota Financial Group LLC grew its stake in InterDigital by 14,500.0% in the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. R Squared Ltd purchased a new position in InterDigital during the 4th quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC raised its position 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 last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Remove Ads

InterDigital Price Performance

Shares of IDCC stock traded up $2.13 during trading hours on Tuesday, hitting $203.89. The company's stock had a trading volume of 36,287 shares, compared to its average volume of 413,672. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a twelve month low of $95.36 and a twelve month high of $231.97. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.57 and a beta of 1.44. The business has a fifty day moving average of $210.03 and a 200-day moving average of $188.60.

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 given a dividend of $0.60 per share. This is an increase from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.18%. InterDigital's dividend payout ratio (DPR) is presently 19.93%.

Insider Transactions at InterDigital

In related news, CFO Richard Brezski sold 9,602 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the transaction, the chief financial officer now directly owns 102,555 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $181.03, for a total transaction of $126,721.00. Following the transaction, the chief technology officer now directly owns 78,161 shares of the company's stock, valued at approximately $14,149,485.83. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,833 shares of company stock valued at $2,938,660 over the last three months. 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.