Pictet Asset Management Holding SA Increases Position in InterDigital, Inc. (NASDAQ:IDCC)

Pictet Asset Management Holding SA increased its position in InterDigital, Inc. (NASDAQ:IDCC) by 15.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,339 shares of the Wireless communications provider’s stock after buying an additional 438 shares during the period. Pictet Asset Management Holding SA’s holdings in InterDigital were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new position in shares of InterDigital in the fourth quarter valued at about $62,583,000. Reinhart Partners LLC. boosted its position 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 buying an additional 164,223 shares during the last quarter. Norges Bank acquired a new position in InterDigital in the 4th quarter worth approximately $17,387,000. Boston Partners raised its position in InterDigital by 5.5% during the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider’s stock worth $311,654,000 after buying an additional 83,794 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in InterDigital by 229.6% during the 4th quarter. Intech Investment Management LLC now owns 97,979 shares of the Wireless communications provider’s stock valued at $18,980,000 after acquiring an additional 68,251 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Down 2.4 %

NASDAQ:IDCC opened at $191.09 on Wednesday. The firm has a market capitalization of $4.91 billion, a P/E ratio of 15.87, a PEG ratio of 1.57 and a beta of 1.44. The company’s fifty day moving average price is $207.96 and its 200-day moving average price is $186.32. InterDigital, Inc. has a 1-year low of $95.36 and a 1-year high of $231.97. 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 Increases Dividend

The business 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 dividend of $0.60 per share. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

Insider Activity

In other news, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction 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 sale, the insider now directly owns 30,537 shares in the company, valued at $6,550,491.87. This trade represents 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 in the last quarter. 2.30% of the stock is currently owned by company insiders.

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.