AlphaQuest LLC Sells 7,229 Shares of InterDigital, Inc. (NASDAQ:IDCC)

AlphaQuest LLC reduced its stake in InterDigital, Inc. (NASDAQ:IDCC) by 67.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430 shares of the Wireless communications provider’s stock after selling 7,229 shares during the period. AlphaQuest LLC’s holdings in InterDigital were worth $664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Disciplined Growth Investors Inc. MN raised its position in shares of InterDigital by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after acquiring an additional 39,891 shares in the last quarter. Geode Capital Management LLC raised its holdings in InterDigital by 0.7% in the third quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock worth $83,968,000 after purchasing an additional 3,975 shares in the last quarter. Reinhart Partners LLC. lifted its position in InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after buying an additional 164,223 shares during the period. Congress Asset Management Co. bought a new stake in shares of InterDigital during the 4th quarter valued at $62,583,000. Finally, Wellington Management Group LLP boosted its holdings in shares of InterDigital by 6.0% during the 3rd quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider’s stock valued at $22,052,000 after buying an additional 8,824 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the sale, the insider now directly owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Brezski sold 9,602 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 102,555 shares of the company’s stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,134 shares of company stock worth $4,678,770. Insiders own 2.30% of the company’s stock.

InterDigital Stock Up 1.0 %

Shares of InterDigital stock opened at $212.59 on Wednesday. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $231.96. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.57 and a beta of 1.45. The company has a 50-day moving average of $196.27 and a 200 day moving average of $175.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.13%. InterDigital’s dividend payout ratio (DPR) is currently 19.93%.

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.