InterDigital, Inc. (NASDAQ:IDCC) Stock Position Lifted by Moran Wealth Management LLC

Moran Wealth Management LLC raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 37.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,956 shares of the Wireless communications provider’s stock after purchasing an additional 1,087 shares during the period. Moran Wealth Management LLC’s holdings in InterDigital were worth $560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in InterDigital by 294,025.0% during 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 purchasing an additional 11,761 shares during the last quarter. Vanguard Group Inc. grew its stake 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 valued at $344,370,000 after buying an additional 17,238 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in InterDigital in the first quarter worth approximately $575,000. CANADA LIFE ASSURANCE Co raised its position in InterDigital by 5.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 30,255 shares of the Wireless communications provider’s stock valued at $3,218,000 after acquiring an additional 1,698 shares in the last quarter. Finally, BOKF NA lifted its stake in InterDigital by 89.0% in the first quarter. BOKF NA now owns 2,949 shares of the Wireless communications provider’s stock valued at $287,000 after acquiring an additional 1,389 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Trading Up 3.7 %

NASDAQ:IDCC opened at $190.12 on Friday. The company’s 50 day moving average is $156.92 and its 200-day moving average is $134.60. 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, Inc. has a 12 month low of $95.33 and a 12 month high of $191.57. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 0.77 and a beta of 1.38.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.95%. InterDigital’s payout ratio is currently 19.23%.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was 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 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Roth Mkm increased their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research 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.