BI Asset Management Fondsmaeglerselskab A S Reduces Stake in InterDigital, Inc. (NASDAQ:IDCC)

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,513 shares of the Wireless communications provider’s stock after selling 37,161 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.28% of InterDigital worth $13,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its stake in InterDigital by 5.5% in the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider’s stock worth $311,654,000 after acquiring an additional 83,794 shares during the last quarter. Geode Capital Management LLC increased its position in shares of InterDigital by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider’s stock worth $115,240,000 after purchasing an additional 1,991 shares during the last quarter. Reinhart Partners LLC. raised its stake in 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 in the last quarter. Invesco Ltd. lifted its position in InterDigital by 4.7% during the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider’s stock valued at $63,511,000 after purchasing an additional 14,809 shares during the last quarter. Finally, Congress Asset Management Co. purchased a new position in InterDigital in the 4th quarter worth approximately $62,583,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the transaction, the chief technology officer now directly owns 52,396 shares in the company, valued at $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of the business’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 transaction of $75,078.50. Following the completion of the sale, the insider now owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,833 shares of company stock valued at $2,938,660 over the last 90 days. Insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

InterDigital stock opened at $189.27 on Friday. InterDigital, Inc. has a fifty-two week low of $96.48 and a fifty-two week high of $231.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $4.86 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The firm’s fifty day moving average price is $208.98 and its 200-day moving average price is $189.72.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. 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 1.27%. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

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.