Ridgepath Capital Management LLC Invests $244,000 in InterDigital, Inc. (NASDAQ:IDCC)

Ridgepath Capital Management LLC acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,260 shares of the Wireless communications provider’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. The Manufacturers Life Insurance Company increased its holdings in InterDigital by 1.1% in the 2nd 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. Algert Global LLC acquired a new stake in InterDigital during the second quarter valued at approximately $1,796,000. Creative Planning raised its holdings in shares of InterDigital by 4.2% in the 2nd quarter. Creative Planning now owns 13,637 shares of the Wireless communications provider’s stock worth $1,590,000 after buying an additional 551 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of InterDigital during the 2nd quarter worth approximately $322,000. Finally, Truist Financial Corp raised its stake in InterDigital by 1.5% during the second quarter. Truist Financial Corp now owns 22,149 shares of the Wireless communications provider’s stock worth $2,582,000 after acquiring an additional 322 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

InterDigital Price Performance

InterDigital stock opened at $184.76 on Friday. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $207.08. The business’s 50-day simple moving average is $189.15 and its 200 day simple moving average is $160.01. 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 stock has a market cap of $4.68 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 2.05 and a beta of 1.44.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $204.13, for a total value of $142,891.00. Following the completion of the transaction, the chief technology officer now directly owns 52,997 shares in the company, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction that occurred 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 owns 164,543 shares in the company, valued at $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,622 shares of company stock worth $2,433,251. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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.