Principal Financial Group Inc. Sells 8,158 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Principal Financial Group Inc. trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 137,016 shares of the Wireless communications provider’s stock after selling 8,158 shares during the quarter. Principal Financial Group Inc.’s holdings in InterDigital were worth $19,406,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in InterDigital during the 3rd quarter worth about $26,000. Nisa Investment Advisors LLC boosted its stake in shares of InterDigital by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after buying an additional 233 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of InterDigital by 81.3% in the 3rd quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock valued at $94,000 after acquiring an additional 299 shares in the last quarter. Finally, CWM LLC increased its position in shares of InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 216 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IDCC shares. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm boosted their price objective 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.

InterDigital Trading Up 1.3 %

Shares of NASDAQ:IDCC opened at $194.52 on Friday. The stock has a market cap of $4.93 billion, a PE ratio of 20.78, a P/E/G ratio of 0.81 and a beta of 1.44. 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 $203.90. The business has a 50 day moving average of $181.07 and a 200-day moving average of $148.55.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, January 8th. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Activity

In other InterDigital news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,622 shares of company stock valued at $2,390,306. 2.30% of the stock is owned by company insiders.

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.