New Age Alpha Advisors LLC Invests $365,000 in InterDigital, Inc. (NASDAQ:IDCC)

New Age Alpha Advisors LLC acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,883 shares of the Wireless communications provider's stock, valued at approximately $365,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. bought a new stake in InterDigital in the fourth quarter worth approximately $62,583,000. Reinhart Partners LLC. grew its position in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock worth $69,785,000 after buying an additional 164,223 shares during the period. Norges Bank bought a new stake in shares of InterDigital in the 4th quarter valued at $17,387,000. Boston Partners lifted its position in shares of InterDigital by 5.5% during the 4th 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 during the period. Finally, Intech Investment Management LLC boosted its stake in InterDigital by 229.6% during the fourth quarter. Intech Investment Management LLC now owns 97,979 shares of the Wireless communications provider's stock worth $18,980,000 after acquiring an additional 68,251 shares in the last quarter. Institutional investors own 99.83% of the company's stock.

InterDigital Stock Down 3.4 %

IDCC traded down $6.76 during midday trading on Friday, hitting $191.31. The company had a trading volume of 635,276 shares, compared to its average volume of 415,604. The stock's 50 day moving average price is $207.18 and its 200 day moving average price is $185.51. InterDigital, Inc. has a 52 week low of $95.36 and a 52 week high of $231.97. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.57 and a beta of 1.44. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02.

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InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This is an increase from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital's dividend payout ratio is 19.93%.

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the sale, the chief technology officer now owns 52,997 shares in the company, valued at $10,818,277.61. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eeva K. Hakoranta sold 350 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the completion of the transaction, the insider now directly owns 30,537 shares in the company, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833 shares of company stock worth $2,954,830. Corporate insiders own 2.30% of the company's stock.

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.