Oppenheimer & Co. Inc. Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Oppenheimer & Co. Inc. bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,300 shares of the Wireless communications provider's stock, valued at approximately $446,000.

A number of other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its position in InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after purchasing an additional 111 shares during the period. Transcendent Capital Group LLC purchased a new position in InterDigital in the third quarter valued at about $25,000. Mendota Financial Group LLC increased its holdings in shares of InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. R Squared Ltd acquired a new position in InterDigital in the 4th quarter valued at $70,000. Finally, Nisa Investment Advisors LLC lifted its position in InterDigital by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider's stock worth $89,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Stock Performance

InterDigital stock traded up $2.05 during mid-day trading on Tuesday, reaching $212.59. The company had a trading volume of 303,540 shares, compared to its average volume of 389,844. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.57 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.96. The company has a 50 day moving average of $195.89 and a 200-day moving average of $175.00.

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InterDigital Increases Dividend

The firm also recently announced 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 represents a $2.40 dividend on an annualized basis and a yield of 1.13%. This is a boost from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital's dividend payout ratio is presently 19.93%.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction 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 represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,134 shares of company stock valued at $4,678,770. Corporate insiders own 2.30% of the company's stock.

InterDigital 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.