World Investment Advisors LLC Invests $1.51 Million in InterDigital, Inc. (NASDAQ:IDCC)

World Investment Advisors LLC bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,672 shares of the Wireless communications provider's stock, valued at approximately $1,511,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new stake in shares of InterDigital in the 3rd quarter valued at $1,427,000. Kovitz Investment Group Partners LLC purchased a new position in InterDigital during the third quarter worth about $380,000. Ritholtz Wealth Management grew its position in InterDigital by 16.1% in the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider's stock valued at $3,445,000 after acquiring an additional 3,381 shares in the last quarter. Olympiad Research LP acquired a new stake in InterDigital in the 3rd quarter valued at about $475,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in InterDigital during the 3rd quarter worth about $568,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Joshua D. Schmidt sold 140 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company's stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is owned by insiders.

Analyst Ratings Changes

IDCC has been the topic of several recent research reports. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Roth Mkm raised 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.

InterDigital Stock Down 0.8 %

NASDAQ IDCC traded down $1.50 during trading on Friday, reaching $194.36. 208,855 shares of the company's stock were exchanged, compared to its average volume of 447,636. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $203.90. The company's fifty day simple moving average is $173.81 and its 200-day simple moving average is $143.93. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.93 billion, a PE ratio of 20.76, a P/E/G ratio of 0.81 and a beta of 1.44.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders 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 dividend on an annualized basis and a yield of 0.93%. InterDigital's payout ratio is currently 19.23%.

About InterDigital

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.