Zurcher Kantonalbank Zurich Cantonalbank boosted its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 55.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,588 shares of the Wireless communications provider's stock after acquiring an additional 3,789 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in InterDigital were worth $2,051,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in IDCC. Congress Asset Management Co. bought a new position in InterDigital in the fourth quarter valued at approximately $62,583,000. Reinhart Partners LLC. increased its stake in InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after acquiring an additional 164,223 shares during the last quarter. Raymond James Financial Inc. bought a new position in InterDigital in the fourth quarter valued at approximately $9,040,000. Disciplined Growth Investors Inc. MN increased its stake in InterDigital by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider's stock valued at $160,441,000 after acquiring an additional 39,891 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of InterDigital during the fourth quarter worth $7,062,000. 99.83% of the stock is owned by institutional investors.
Insider Buying and Selling at InterDigital
In other news, insider Joshua D. Schmidt sold 1,781 shares of InterDigital stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total transaction of $388,258.00. Following the sale, the insider now directly owns 24,395 shares of the company's stock, valued at approximately $5,318,110. This trade represents a 6.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now directly owns 52,396 shares in the company, valued at $9,693,260. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,024 shares of company stock worth $3,916,280. 2.30% of the stock is currently owned by insiders.
InterDigital Price Performance
Shares of NASDAQ:IDCC traded down $1.43 during trading on Thursday, hitting $219.42. 264,442 shares of the company were exchanged, compared to its average volume of 411,646. The business's 50 day moving average is $198.76 and its 200-day moving average is $178.64. The company has a market capitalization of $5.64 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. 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 1-year low of $95.33 and a 1-year high of $231.97.
InterDigital Increases Dividend
The business 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.09%. InterDigital's dividend payout ratio is 19.93%.
About InterDigital
(
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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