323,061 Shares in InterDigital, Inc. (NASDAQ:IDCC) Purchased by Congress Asset Management Co.

Congress Asset Management Co. acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 323,061 shares of the Wireless communications provider’s stock, valued at approximately $62,583,000. Congress Asset Management Co. owned approximately 1.27% of InterDigital at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new stake in InterDigital in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital in the 3rd quarter valued at $26,000. Mendota Financial Group LLC grew its holdings in shares of InterDigital by 14,500.0% in the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after purchasing an additional 290 shares during the last quarter. R Squared Ltd acquired a new stake in shares of InterDigital during the 4th quarter worth about $70,000. Finally, Nisa Investment Advisors LLC lifted its holdings in InterDigital by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock valued at $89,000 after purchasing an additional 233 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the transaction, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 13,322 shares of company stock valued at $2,562,751. Insiders own 2.30% of the company’s stock.

InterDigital Price Performance

Shares of IDCC stock opened at $214.29 on Friday. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $216.00. The stock has a market capitalization of $5.43 billion, a PE ratio of 17.80, a PEG ratio of 2.41 and a beta of 1.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.62 and a current ratio of 1.70. The stock’s fifty day moving average is $190.07 and its 200-day moving average is $166.28.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 represents a $2.40 dividend on an annualized basis and a yield of 1.12%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio is currently 14.95%.

Wall Street Analysts Forecast Growth

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

InterDigital 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.