Resona Asset Management Co. Ltd. purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,569 shares of the Wireless communications provider's stock, valued at approximately $885,000.
Several other hedge funds have also added to or reduced their stakes in IDCC. Global Retirement Partners LLC boosted its position in shares of InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in InterDigital in the fourth quarter valued at about $39,000. Mendota Financial Group LLC boosted its holdings in InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after buying an additional 290 shares during the last quarter. R Squared Ltd acquired a new position in shares of InterDigital during the 4th quarter worth about $70,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of InterDigital by 468.8% in the 4th 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 during the last quarter. Institutional investors own 99.83% of the company's stock.
Insider Activity at InterDigital
In related news, CFO Richard Brezski sold 9,602 shares of the firm's stock in a transaction on 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 sale, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the sale, the chief technology officer now directly owns 78,161 shares in the company, valued at $14,149,485.83. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,833 shares of company stock worth $2,938,660 in the last quarter. Corporate insiders own 2.30% of the company's stock.
InterDigital Trading Up 0.9 %
InterDigital stock traded up $1.82 during midday trading on Tuesday, hitting $203.58. 92,932 shares of the stock were exchanged, compared to its average volume of 413,916. The stock has a market capitalization of $5.23 billion, a PE ratio of 16.91, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a fifty day simple moving average of $210.03 and a two-hundred day simple moving average of $188.60. 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 $95.36 and a 52 week high of $231.97.
InterDigital Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.60 dividend. This is a positive change from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.18%. InterDigital's payout ratio is 19.93%.
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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