InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Algert Global LLC

Algert Global LLC decreased its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 68.3% in the third quarter, Holdings Channel reports. The firm owned 4,878 shares of the Wireless communications provider’s stock after selling 10,530 shares during the period. Algert Global LLC’s holdings in InterDigital were worth $691,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new stake in InterDigital in the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in InterDigital in the 3rd quarter worth approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 124 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 0.2 %

NASDAQ:IDCC opened at $195.96 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The company’s fifty day moving average price is $161.70 and its 200-day moving average price is $137.10. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $199.79. The firm has a market capitalization of $4.97 billion, a P/E ratio of 20.94, a PEG ratio of 0.82 and a beta of 1.38.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Insider Buying and Selling at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,340 shares of company stock worth $472,253. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

IDCC has been the topic of several research reports. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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.