Everence Capital Management Inc. Lowers Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Everence Capital Management Inc. cut its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 58.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,710 shares of the Wireless communications provider's stock after selling 3,760 shares during the period. Everence Capital Management Inc.'s holdings in InterDigital were worth $525,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in InterDigital by 41.2% during the fourth quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider's stock valued at $182,000 after acquiring an additional 275 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of InterDigital by 13.1% in the 3rd quarter. Tidal Investments LLC now owns 10,923 shares of the Wireless communications provider's stock valued at $1,547,000 after purchasing an additional 1,269 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of InterDigital during the 3rd quarter valued at $1,511,000. Sanctuary Advisors LLC raised its position in InterDigital by 24.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,376 shares of the Wireless communications provider's stock worth $903,000 after purchasing an additional 1,265 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake 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 purchasing an additional 168 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now directly owns 164,543 shares of the company's stock, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,922 shares of company stock worth $2,290,360. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IDCC has been the topic of a number of recent research reports. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th.

InterDigital Trading Down 0.8 %

Shares of NASDAQ:IDCC traded down $1.56 during midday trading on Monday, hitting $201.77. 639,129 shares of the stock traded hands, compared to its average volume of 429,210. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $186.47 and its two-hundred day moving average is $152.34. The stock has a market capitalization of $5.11 billion, a PE ratio of 21.56, a P/E/G ratio of 0.95 and a beta of 1.44. InterDigital, Inc. has a one year low of $95.33 and a one year high of $207.08.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital's payout ratio is 19.23%.

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.