State of New Jersey Common Pension Fund D Sells 2,143 Shares of InterDigital, Inc. (NASDAQ:IDCC)

State of New Jersey Common Pension Fund D trimmed its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 12.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,770 shares of the Wireless communications provider’s stock after selling 2,143 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of InterDigital worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in InterDigital by 294,025.0% in the first quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider’s stock worth $1,253,000 after purchasing an additional 11,761 shares during the period. ProShare Advisors LLC boosted its holdings in InterDigital by 7.3% in the first quarter. ProShare Advisors LLC now owns 7,771 shares of the Wireless communications provider’s stock worth $827,000 after acquiring an additional 529 shares in the last quarter. Blair William & Co. IL grew its stake in InterDigital by 7.3% in the first quarter. Blair William & Co. IL now owns 4,379 shares of the Wireless communications provider’s stock valued at $466,000 after acquiring an additional 299 shares during the period. Vanguard Group Inc. increased its holdings in shares of InterDigital by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock valued at $344,370,000 after acquiring an additional 17,238 shares in the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of InterDigital by 118.5% during the first quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider’s stock worth $1,422,000 after purchasing an additional 7,245 shares during the period. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm upped their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Price Performance

InterDigital stock opened at $182.07 on Friday. InterDigital, Inc. has a 52 week low of $94.10 and a 52 week high of $191.57. The company’s 50 day moving average price is $151.73 and its two-hundred day moving average price is $131.73. The stock has a market cap of $4.61 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.78 and a beta of 1.38. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.45 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.99%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is currently 19.23%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,205 shares of company stock worth $716,218 in the last quarter. 2.30% of the stock is currently owned by company 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.