Advisory Services Network LLC Cuts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Advisory Services Network LLC lowered its stake in InterDigital, Inc. (NASDAQ:IDCC) by 17.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,781 shares of the Wireless communications provider’s stock after selling 4,073 shares during the period. Advisory Services Network LLC owned 0.07% of InterDigital worth $3,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC grew its stake 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 buying an additional 111 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in InterDigital in the 4th quarter valued at approximately $39,000. Mendota Financial Group LLC lifted its position in InterDigital by 14,500.0% in the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after acquiring an additional 290 shares in the last quarter. R Squared Ltd bought a new position in InterDigital in the 4th quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC lifted its position in 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 in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

IDCC stock opened at $207.07 on Thursday. The stock has a market capitalization of $5.32 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 12-month low of $95.36 and a 12-month high of $231.97. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $208.89 and its 200 day simple moving average is $186.94.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.16%. InterDigital’s dividend payout ratio is 19.93%.

Insider Activity at InterDigital

In other news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the transaction, the insider now directly owns 30,537 shares of the company’s stock, valued at $6,550,491.87. This represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the transaction, 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. In the last three months, insiders have sold 13,833 shares of company stock valued at $2,938,660. 2.30% of the stock is owned by corporate insiders.

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.