46,664 Shares in InterDigital, Inc. (NASDAQ:IDCC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 46,664 shares of the Wireless communications provider’s stock, valued at approximately $9,040,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDCC. Global Retirement Partners LLC raised its holdings in shares of InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 111 shares in the last quarter. Mendota Financial Group LLC increased its position in shares of InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after acquiring an additional 290 shares in the last quarter. R Squared Ltd purchased a new position in shares of InterDigital in the fourth quarter worth approximately $70,000. Smartleaf Asset Management LLC increased its position in shares of InterDigital by 468.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 511 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of InterDigital by 22.9% in the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 168 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insider Transactions at InterDigital

In related news, insider Eeva K. Hakoranta sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total transaction of $152,656.00. Following the transaction, the chief technology officer now directly owns 71,606 shares in the company, valued at $15,615,836.48. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,724 shares of company stock valued at $4,068,936 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

InterDigital stock opened at $217.35 on Friday. The firm’s 50 day simple moving average is $199.97 and its 200-day simple moving average is $179.46. The company has a market cap of $5.58 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. 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 fifty-two week low of $95.33 and a fifty-two week high of $231.97.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a $0.60 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 19.93%.

InterDigital Company 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.