New Vernon Capital Holdings II LLC cut its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 82.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 808 shares of the Wireless communications provider's stock after selling 3,830 shares during the quarter. New Vernon Capital Holdings II LLC's holdings in InterDigital were worth $157,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners grew its stake in shares of InterDigital by 5.5% during the fourth quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock valued at $311,654,000 after acquiring an additional 83,794 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of InterDigital by 3.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after acquiring an additional 21,319 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of InterDigital by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $115,240,000 after acquiring an additional 1,991 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after acquiring an additional 164,223 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of InterDigital by 4.7% during the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock valued at $63,511,000 after acquiring an additional 14,809 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at InterDigital
In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $181.03, for a total transaction of $126,721.00. Following the completion of the transaction, the chief technology officer now owns 78,161 shares in the company, valued at approximately $14,149,485.83. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Brezski sold 9,602 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the transaction, the chief financial officer now owns 102,555 shares of the company's stock, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,833 shares of company stock worth $2,938,660. 2.30% of the stock is currently owned by corporate insiders.
InterDigital Stock Up 0.4 %
Shares of InterDigital stock traded up $0.81 during trading hours on Monday, hitting $194.56. 190,546 shares of the company's stock traded hands, compared to its average volume of 409,332. The stock has a 50 day simple moving average of $206.06 and a 200-day simple moving average of $191.82. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market cap of $5.00 billion, a PE ratio of 16.16, a PEG ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a twelve month low of $97.51 and a twelve month high of $231.97.
InterDigital Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio (DPR) is currently 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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