InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Creative Planning

Creative Planning cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 40.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,105 shares of the Wireless communications provider's stock after selling 5,532 shares during the period. Creative Planning's holdings in InterDigital were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. Duality Advisers LP raised its position in shares of InterDigital by 1,380.5% in the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider's stock worth $3,441,000 after acquiring an additional 30,137 shares during the period. Edgestream Partners L.P. increased its stake in shares of InterDigital by 118.5% during the first quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider's stock worth $1,422,000 after purchasing an additional 7,245 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of InterDigital by 294,025.0% during the first quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider's stock worth $1,253,000 after purchasing an additional 11,761 shares in the last quarter. Hancock Whitney Corp increased its stake in shares of InterDigital by 60.0% during the first quarter. Hancock Whitney Corp now owns 14,061 shares of the Wireless communications provider's stock worth $1,497,000 after purchasing an additional 5,273 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of InterDigital during the first quarter worth about $768,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

IDCC has been the subject of several research reports. StockNews.com raised shares of InterDigital from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th.

InterDigital Trading Up 10.1 %

Shares of InterDigital stock traded up $15.26 during mid-day trading on Friday, hitting $165.70. The stock had a trading volume of 868,027 shares, compared to its average volume of 460,660. The firm has a 50-day moving average of $142.84 and a two-hundred day moving average of $126.06. InterDigital, Inc. has a 12-month low of $76.82 and a 12-month high of $166.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.16 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.39.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to analysts' expectations of $95.63 million. Sell-side analysts forecast that InterDigital, Inc. will post 9.06 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a $0.45 dividend. This is a positive change from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Wednesday, October 9th. InterDigital's dividend payout ratio is currently 18.11%.

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.