Principal Financial Group Inc. Sells 8,158 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Principal Financial Group Inc. reduced its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,016 shares of the Wireless communications provider's stock after selling 8,158 shares during the quarter. Principal Financial Group Inc. owned 0.54% of InterDigital worth $19,406,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Burney Co. lifted its holdings in shares of InterDigital by 7.2% during the second quarter. Burney Co. now owns 2,102 shares of the Wireless communications provider's stock valued at $245,000 after purchasing an additional 141 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in shares of InterDigital by 46.6% during the 2nd quarter. Arkadios Wealth Advisors now owns 2,868 shares of the Wireless communications provider's stock valued at $334,000 after acquiring an additional 912 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of InterDigital by 8.9% in the second quarter. Ritholtz Wealth Management now owns 20,941 shares of the Wireless communications provider's stock worth $2,441,000 after acquiring an additional 1,712 shares during the period. Guidance Capital Inc. raised its holdings in shares of InterDigital by 9.2% during the second quarter. Guidance Capital Inc. now owns 4,553 shares of the Wireless communications provider's stock valued at $559,000 after purchasing an additional 382 shares during the last quarter. Finally, Foster & Motley Inc. bought a new position in InterDigital during the second quarter valued at approximately $412,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now directly owns 24,138 shares of the company's stock, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company's stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,622 shares of company stock valued at $2,390,306. Company insiders own 2.30% of the company's stock.

InterDigital Stock Performance

IDCC stock traded up $0.41 during midday trading on Friday, reaching $194.93. 163,237 shares of the company's stock traded hands, compared to its average volume of 445,560. The stock's 50-day moving average is $181.89 and its 200 day moving average is $149.10. The stock has a market cap of $4.94 billion, a P/E ratio of 20.83, a PEG ratio of 0.81 and a beta of 1.44. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $203.90. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 0.92%. InterDigital's dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

IDCC has been the subject of a number of research analyst reports. Roth Mkm lifted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

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.