Ritholtz Wealth Management Acquires 3,205 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Ritholtz Wealth Management lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 13.2% during the fourth quarter, HoldingsChannel reports. The firm owned 27,527 shares of the Wireless communications provider’s stock after purchasing an additional 3,205 shares during the quarter. Ritholtz Wealth Management’s holdings in InterDigital were worth $5,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Captrust Financial Advisors increased its position in shares of InterDigital by 0.5% during the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after buying an additional 68 shares during the period. Simplicity Wealth LLC increased its position in shares of InterDigital by 1.5% during the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after buying an additional 69 shares during the period. Blue Trust Inc. increased its position in shares of InterDigital by 9.4% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 101 shares during the period. Larson Financial Group LLC increased its position in shares of InterDigital by 8.9% during the third quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider’s stock valued at $201,000 after buying an additional 116 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of InterDigital by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock valued at $1,643,000 after buying an additional 153 shares during the period. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Down 2.3 %

Shares of IDCC opened at $171.68 on Friday. The firm has a market cap of $4.35 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.11 and a beta of 1.44. The stock has a 50 day simple moving average of $190.67 and a two-hundred day simple moving average of $156.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $207.08.

InterDigital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 1.05%. InterDigital’s payout ratio is currently 19.23%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of the transaction, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the transaction, the chief executive officer now owns 158,652 shares of the company’s stock, valued at approximately $30,004,266.24. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,622 shares of company stock worth $2,433,251. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.