Optimize Financial Inc bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,067 shares of the Wireless communications provider's stock, valued at approximately $1,369,000. InterDigital comprises 1.0% of Optimize Financial Inc's holdings, making the stock its 25th largest holding.
Several other hedge funds and other institutional investors have also recently modified their holdings of IDCC. Global Retirement Partners LLC raised its holdings in InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of InterDigital in the fourth quarter valued at approximately $39,000. Mendota Financial Group LLC increased its holdings in shares of InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock valued at $57,000 after purchasing an additional 290 shares during the last quarter. R Squared Ltd acquired a new stake in shares of InterDigital in the fourth quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC lifted its position in InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider's stock worth $121,000 after buying an additional 511 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.
InterDigital Trading Up 0.6 %
NASDAQ:IDCC traded up $1.17 during trading hours on Tuesday, hitting $202.93. The company had a trading volume of 202,893 shares, compared to its average volume of 414,259. InterDigital, Inc. has a 1 year low of $95.36 and a 1 year high of $231.97. The company has a market cap of $5.21 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a 50-day moving average of $209.86 and a 200 day moving average of $188.70. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.
InterDigital Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is currently 19.93%.
Insider Activity at InterDigital
In related news, CFO Richard Brezski sold 9,602 shares of the company's stock in a transaction that occurred 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 directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares of the company's stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,833 shares of company stock valued at $2,938,660. 2.30% of the stock is owned by company insiders.
InterDigital Company Profile
(
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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