Commonwealth Equity Services LLC Reduces Stake in InterDigital, Inc. (NASDAQ:IDCC)

Commonwealth Equity Services LLC reduced its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 27.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,385 shares of the Wireless communications provider’s stock after selling 14,790 shares during the quarter. Commonwealth Equity Services LLC owned 0.15% of InterDigital worth $7,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC increased its stake in InterDigital by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 6,309 shares of the Wireless communications provider’s stock worth $1,222,000 after acquiring an additional 120 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of InterDigital during the 4th quarter valued at about $3,146,000. Moran Wealth Management LLC increased its position in shares of InterDigital by 3.3% during the 4th quarter. Moran Wealth Management LLC now owns 4,086 shares of the Wireless communications provider’s stock valued at $792,000 after purchasing an additional 130 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of InterDigital by 55.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,588 shares of the Wireless communications provider’s stock valued at $2,051,000 after purchasing an additional 3,789 shares during the last quarter. Finally, Amundi increased its position in shares of InterDigital by 57.0% during the 4th quarter. Amundi now owns 20,897 shares of the Wireless communications provider’s stock valued at $3,989,000 after purchasing an additional 7,586 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the sale, the chief executive officer now directly owns 158,652 shares in the company, valued at $30,004,266.24. This represents a 3.58 % decrease in their position. 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 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 sale, the chief technology officer now owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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 InterDigital stock opened at $219.14 on Friday. 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 firm has a market capitalization of $5.63 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. The business’s 50-day moving average price is $199.33 and its 200-day moving average price is $178.92. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $231.97.

InterDigital Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. InterDigital’s dividend payout ratio is 19.93%.

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.