Prudential Financial Inc. Sells 368 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Prudential Financial Inc. trimmed its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,634 shares of the Wireless communications provider’s stock after selling 368 shares during the quarter. Prudential Financial Inc.’s holdings in InterDigital were worth $4,667,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. One Wealth Advisors LLC boosted its position in shares of InterDigital by 1.8% during the fourth quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock worth $697,000 after acquiring an additional 64 shares during the last quarter. Savant Capital LLC lifted its stake in InterDigital by 2.8% in the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock worth $461,000 after purchasing an additional 64 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after purchasing an additional 68 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of InterDigital by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider’s stock valued at $2,383,000 after purchasing an additional 100 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of InterDigital by 504.5% in the fourth 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 during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

InterDigital Price Performance

Shares of InterDigital stock opened at $206.75 on Tuesday. The firm has a market cap of $5.31 billion, a PE ratio of 17.17, a PEG ratio of 1.57 and a beta of 1.45. The stock has a 50 day moving average of $205.04 and a 200 day moving average of $183.68. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $231.97.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. 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 dividend on an annualized basis and a dividend yield of 1.16%. InterDigital’s dividend payout ratio (DPR) is 19.93%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total value of $152,656.00. Following the completion of the transaction, the chief technology officer now directly owns 71,606 shares of the company’s stock, valued at $15,615,836.48. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Brezski sold 9,602 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares in the company, valued at $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,833 shares of company stock valued at $2,954,830. 2.30% of the stock is owned by corporate insiders.

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.