Franklin Resources Inc. lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,834 shares of the Wireless communications provider's stock after selling 3,938 shares during the quarter. Franklin Resources Inc. owned 0.13% of InterDigital worth $6,361,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised 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 valued at $26,000 after purchasing an additional 111 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of InterDigital during the 4th quarter valued at about $39,000. Mendota Financial Group LLC lifted its position 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 worth $57,000 after buying an additional 290 shares during the last quarter. R Squared Ltd purchased a new stake in InterDigital in the fourth quarter worth approximately $70,000. Finally, Smartleaf Asset Management LLC grew 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 valued at $121,000 after acquiring an additional 511 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at InterDigital
In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the sale, the chief technology officer now owns 52,396 shares of the company's stock, valued at approximately $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,833 shares of company stock worth $2,938,660 in the last ninety days. 2.30% of the stock is owned by company insiders.
InterDigital Price Performance
Shares of IDCC stock traded up $2.17 during trading hours on Tuesday, hitting $203.93. 26,799 shares of the company's stock were exchanged, compared to its average volume of 413,626. InterDigital, Inc. has a 12-month low of $95.36 and a 12-month high of $231.97. The company has a market capitalization of $5.24 billion, a PE ratio of 16.94, a PEG ratio of 1.57 and a beta of 1.44. The business's 50 day simple moving average is $210.03 and its 200-day simple moving average is $188.60. 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 Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's payout ratio is 19.93%.
About InterDigital
(
Free Report)
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.
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