Fred Alger Management LLC Buys 4,101 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Fred Alger Management LLC lifted its position in InterDigital, Inc. (NASDAQ:IDCC) by 15.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,878 shares of the Wireless communications provider’s stock after buying an additional 4,101 shares during the quarter. Fred Alger Management LLC owned approximately 0.12% of InterDigital worth $4,373,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IDCC. Verition Fund Management LLC lifted its stake in InterDigital by 404.1% in the 3rd quarter. Verition Fund Management LLC now owns 17,937 shares of the Wireless communications provider’s stock worth $2,540,000 after purchasing an additional 14,379 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of InterDigital by 0.5% in the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after purchasing an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of InterDigital by 18.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,799 shares of the Wireless communications provider’s stock worth $963,000 after purchasing an additional 1,041 shares during the period. Bridgewater Associates LP raised its position in shares of InterDigital by 6.6% in the third quarter. Bridgewater Associates LP now owns 22,840 shares of the Wireless communications provider’s stock worth $3,235,000 after buying an additional 1,423 shares in the last quarter. Finally, Hancock Whitney Corp boosted its stake in InterDigital by 1.3% during the third quarter. Hancock Whitney Corp now owns 16,496 shares of the Wireless communications provider’s stock valued at $2,336,000 after buying an additional 209 shares during the period. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Down 0.2 %

IDCC opened at $195.96 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $162.85 and its 200 day simple moving average is $137.72. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $199.79. The stock has a market cap of $4.97 billion, a PE ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 1.38.

InterDigital Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

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.