InterDigital, Inc. (NASDAQ:IDCC) Stock Holdings Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 0.4% in the fourth quarter, Holdings Channel reports. The firm owned 14,339 shares of the Wireless communications provider’s stock after selling 62 shares during the period. State of Alaska Department of Revenue’s holdings in InterDigital were worth $2,777,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC bought a new position in shares of InterDigital in the 3rd quarter valued at approximately $1,427,000. Flagship Harbor Advisors LLC acquired a new position in InterDigital during the fourth quarter valued at approximately $338,000. Reinhart Partners LLC. raised its position in shares of 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 purchasing an additional 164,223 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in shares of InterDigital in the third quarter worth $380,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of InterDigital by 16.1% during the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after buying an additional 3,381 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Performance

InterDigital stock opened at $204.39 on Monday. The stock has a 50-day simple moving average of $188.74 and a 200 day simple moving average of $163.43. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.41 and a beta of 1.44. The company has a quick ratio of 1.62, a current ratio of 1.70 and a debt-to-equity ratio of 0.08. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $213.38.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.17%. 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. InterDigital’s dividend payout ratio is presently 19.93%.

Insider Activity

In other news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the transaction, the insider now owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the completion of the transaction, the chief technology officer now owns 52,997 shares in the company, valued at approximately $10,818,277.61. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,322 shares of company stock valued at $2,562,751 over the last three months. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

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.