Foster & Motley Inc. Reduces Position in InterDigital, Inc. (NASDAQ:IDCC)

Foster & Motley Inc. trimmed its stake in InterDigital, Inc. (NASDAQ:IDCC) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,316 shares of the Wireless communications provider’s stock after selling 157 shares during the period. Foster & Motley Inc.’s holdings in InterDigital were worth $642,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in InterDigital by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock valued at $1,643,000 after purchasing an additional 153 shares in the last quarter. Creative Planning lifted its stake in shares of InterDigital by 4.2% during the 2nd quarter. Creative Planning now owns 13,637 shares of the Wireless communications provider’s stock valued at $1,590,000 after buying an additional 551 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of InterDigital during the 2nd quarter valued at $322,000. Truist Financial Corp boosted its holdings in InterDigital by 1.5% in the 2nd quarter. Truist Financial Corp now owns 22,149 shares of the Wireless communications provider’s stock worth $2,582,000 after buying an additional 322 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in InterDigital in the 2nd quarter worth $596,000. 99.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the transaction, the chief executive officer now directly owns 158,652 shares of the company’s stock, valued at $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,622 shares of company stock valued at $2,433,251. 2.30% of the stock is currently owned by insiders.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $182.98 on Friday. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.05 and a beta of 1.44. The firm has a fifty day moving average price of $189.00 and a 200 day moving average price of $160.43. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $207.08. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.98%. InterDigital’s payout ratio is 19.23%.

InterDigital Company 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.