New Age Alpha Advisors LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

New Age Alpha Advisors LLC acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,883 shares of the Wireless communications provider’s stock, valued at approximately $365,000.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in InterDigital during the 4th quarter valued at about $17,387,000. Congress Wealth Management LLC DE bought a new position in shares of InterDigital during the fourth quarter valued at approximately $8,570,000. LPL Financial LLC raised its holdings in shares of InterDigital by 54.2% during the fourth quarter. LPL Financial LLC now owns 7,996 shares of the Wireless communications provider’s stock valued at $1,549,000 after acquiring an additional 2,810 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in InterDigital in the fourth quarter worth $343,000. Finally, KLP Kapitalforvaltning AS purchased a new position in InterDigital during the 4th quarter valued at $2,325,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Trading Down 0.9 %

NASDAQ:IDCC opened at $204.93 on Wednesday. The company has a 50-day moving average price of $205.71 and a 200-day moving average price of $184.16. 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 has a market cap of $5.26 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $231.97.

InterDigital Increases Dividend

The firm 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 $0.60 dividend. 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 dividend on an annualized basis and a dividend yield of 1.17%. InterDigital’s dividend payout ratio is currently 19.93%.

Insider Buying and Selling

In related news, insider Eeva K. Hakoranta sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the transaction, the chief technology officer now owns 52,997 shares of the company’s stock, valued at $10,818,277.61. The trade was a 1.30 % 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 $2,954,830 in the last three months. 2.30% of the stock is owned by corporate insiders.

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.