PAX Financial Group LLC Acquires New Holdings in InterDigital, Inc. (NASDAQ:IDCC)

PAX Financial Group LLC purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,028 shares of the Wireless communications provider's stock, valued at approximately $1,361,000.

Several other institutional investors also recently modified their holdings of the business. Global Retirement Partners LLC raised its holdings in shares of InterDigital by 504.5% during the fourth 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. Prudent Man Investment Management Inc. acquired a new position in InterDigital during the 4th quarter worth approximately $39,000. Mendota Financial Group LLC boosted its holdings in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after acquiring an additional 290 shares in the last quarter. R Squared Ltd acquired a new stake in InterDigital in the fourth quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider's stock valued at $121,000 after acquiring an additional 511 shares in the last quarter. Institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 78,161 shares of the company's stock, valued at approximately $14,149,485.83. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833 shares of company stock valued at $2,938,660 in the last three months. 2.30% of the stock is currently owned by insiders.

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InterDigital Stock Up 0.3 %

Shares of NASDAQ IDCC traded up $0.61 during mid-day trading on Wednesday, reaching $191.10. 111,624 shares of the company's stock traded hands, compared to its average volume of 415,401. InterDigital, Inc. has a 1-year low of $95.36 and a 1-year high of $231.97. The stock has a market cap of $4.91 billion, a P/E ratio of 15.73, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70. The business has a 50-day simple moving average of $207.96 and a 200 day simple moving average of $186.32.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.26%. InterDigital's dividend payout ratio (DPR) is 19.93%.

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.