Quartz Partners LLC Trims Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Quartz Partners LLC lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,958 shares of the Wireless communications provider’s stock after selling 4,730 shares during the quarter. InterDigital makes up approximately 2.1% of Quartz Partners LLC’s investment portfolio, making the stock its 9th largest position. Quartz Partners LLC owned 0.07% of InterDigital worth $3,479,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Congress Asset Management Co. acquired a new position in shares of InterDigital in the 4th quarter valued at about $62,583,000. Reinhart Partners LLC. boosted its holdings in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after buying an additional 164,223 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after buying an additional 113,264 shares during the period. Emerald Advisers LLC grew its position in shares of InterDigital by 50.3% during the 3rd quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock worth $25,633,000 after buying an additional 60,575 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of InterDigital by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock valued at $30,420,000 after acquiring an additional 48,137 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Trading Down 2.6 %

Shares of InterDigital stock opened at $211.40 on Monday. The stock has a market capitalization of $5.43 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $218.76. The stock has a 50 day moving average price of $192.19 and a two-hundred day moving average price of $169.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70.

InterDigital Increases Dividend

The business also recently declared 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 yield of 1.14%. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s payout ratio is 19.93%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the sale, the chief executive officer now directly owns 164,543 shares in the company, valued at approximately $32,141,829.62. The trade was a 3.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,134 shares of company stock worth $4,678,770. 2.30% of the stock is owned by corporate insiders.

InterDigital 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.