CIBC Private Wealth Group LLC trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 749 shares of the Wireless communications provider's stock after selling 1,784 shares during the period. CIBC Private Wealth Group LLC's holdings in InterDigital were worth $143,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of IDCC. Arrowstreet Capital Limited Partnership acquired a new position in InterDigital during the 4th quarter worth approximately $19,572,000. denkapparat Operations GmbH purchased a new position in shares of InterDigital in the fourth quarter valued at $1,422,000. Pictet Asset Management Holding SA grew its holdings in InterDigital by 15.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,339 shares of the Wireless communications provider's stock valued at $647,000 after purchasing an additional 438 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in InterDigital during the 4th quarter worth $365,000. Finally, Norges Bank acquired a new position in InterDigital in the 4th quarter worth $17,387,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
InterDigital Stock Down 0.3 %
NASDAQ:IDCC traded down $0.62 on Friday, reaching $201.93. The stock had a trading volume of 247,188 shares, compared to its average volume of 415,277. The company has a 50-day moving average of $209.65 and a 200 day moving average of $187.83. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.19 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 12-month low of $95.36 and a 12-month high of $231.97.
InterDigital Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.19%. 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 (DPR) is 19.93%.
Insiders Place Their Bets
In related news, CFO Richard Brezski sold 9,602 shares of InterDigital 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 sale, the chief financial officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 52,396 shares in the company, valued at $9,693,260. This 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 in the last three months. 2.30% of the stock is owned by insiders.
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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