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

Principal Financial Group Inc. reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 137,016 shares of the Wireless communications provider's stock after selling 8,158 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of InterDigital worth $19,406,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of InterDigital in the third quarter valued at $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital in the second quarter worth $29,000. GAMMA Investing LLC lifted its position in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock valued at $43,000 after acquiring an additional 124 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock valued at $46,000 after acquiring an additional 109 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of InterDigital by 41.7% during the second quarter. CWM LLC now owns 635 shares of the Wireless communications provider's stock worth $74,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business'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 transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now owns 7,639 shares of the company's stock, valued at approximately $1,026,681.60. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,205 shares of company stock valued at $716,218. Corporate insiders own 2.30% of the company's stock.

InterDigital Price Performance

Shares of IDCC traded up $0.76 during midday trading on Friday, reaching $181.82. The stock had a trading volume of 118,911 shares, compared to its average volume of 457,338. The firm's 50 day moving average price is $150.74 and its 200-day moving average price is $131.17. InterDigital, Inc. has a 52 week low of $94.10 and a 52 week high of $191.57. The company has a market capitalization of $4.61 billion, a P/E ratio of 19.34, a P/E/G ratio of 0.78 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from InterDigital's previous quarterly dividend of $0.40. InterDigital's dividend payout ratio (DPR) is 19.23%.

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.