InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 45.3% during the third quarter, Holdings Channel.com reports. The firm owned 10,659 shares of the Wireless communications provider’s stock after selling 8,811 shares during the quarter. Quest Partners LLC’s holdings in InterDigital were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of 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 valued at $1,253,000 after buying an additional 11,761 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of InterDigital by 7.3% during the 1st quarter. Blair William & Co. IL now owns 4,379 shares of the Wireless communications provider’s stock worth $466,000 after acquiring an additional 299 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of InterDigital by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after acquiring an additional 17,238 shares during the period. Edgestream Partners L.P. increased its stake in InterDigital by 118.5% in the 1st quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider’s stock valued at $1,422,000 after purchasing an additional 7,245 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in InterDigital by 28.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 43,021 shares of the Wireless communications provider’s stock valued at $4,580,000 after purchasing an additional 9,516 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on 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 owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of the 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 $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is owned by insiders.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $182.90 on Wednesday. InterDigital, Inc. has a one year low of $95.33 and a one year high of $191.57. The stock has a market cap of $4.63 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 0.77 and a beta of 1.38. The business’s fifty day moving average price is $153.82 and its two-hundred day moving average price is $133.32. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm increased their price objective 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 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.