Federated Hermes Inc. Lowers Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Federated Hermes Inc. reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,527 shares of the Wireless communications provider’s stock after selling 3,212 shares during the period. Federated Hermes Inc. owned 0.27% of InterDigital worth $13,275,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IDCC. Integrated Wealth Concepts LLC purchased a new position in InterDigital in the 3rd quarter worth approximately $234,000. Wellington Management Group LLP lifted its holdings in InterDigital by 6.0% in the 3rd quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider’s stock worth $22,052,000 after purchasing an additional 8,824 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in InterDigital in the 3rd quarter worth approximately $380,000. LRI Investments LLC purchased a new position in InterDigital in the 3rd quarter worth approximately $129,000. Finally, Geode Capital Management LLC lifted its holdings in InterDigital by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock worth $83,968,000 after purchasing an additional 3,975 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Stock Performance

NASDAQ:IDCC opened at $207.07 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70. InterDigital, Inc. has a 1 year low of $95.36 and a 1 year high of $231.97. The stock’s 50 day simple moving average is $208.89 and its two-hundred day simple moving average is $186.94. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

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

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $181.03, for a total transaction of $126,721.00. Following the transaction, the chief technology officer now owns 78,161 shares of the company’s stock, valued at approximately $14,149,485.83. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,833 shares of company stock valued at $2,938,660 in the last quarter. 2.30% of the stock is currently owned by insiders.

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.