InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. cut its stake in InterDigital, Inc. (NASDAQ:IDCC) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,250 shares of the Wireless communications provider’s stock after selling 250 shares during the period. Pettyjohn Wood & White Inc.’s holdings in InterDigital were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in InterDigital during the third quarter worth about $25,000. Global Retirement Partners LLC boosted its position in shares of InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 111 shares in the last quarter. Mendota Financial Group LLC increased its stake in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 290 shares during the last quarter. R Squared Ltd purchased a new position in shares of InterDigital in the 4th quarter valued at $70,000. Finally, Nisa Investment Advisors LLC increased its position in shares of InterDigital by 58.8% during the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after purchasing an additional 233 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Price Performance

InterDigital stock opened at $209.91 on Friday. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $218.76. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a 50 day moving average price of $193.54 and a 200 day moving average price of $170.90.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

Insider Transactions at InterDigital

In related news, CFO Richard Brezski sold 9,602 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares of the company’s stock, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,134 shares of company stock valued at $4,678,770. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note 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.