Merit Financial Group LLC Boosts Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Merit Financial Group LLC lifted its stake in InterDigital, Inc. (NASDAQ:IDCC) by 10.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,988 shares of the Wireless communications provider’s stock after buying an additional 1,170 shares during the period. Merit Financial Group LLC’s holdings in InterDigital were worth $2,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in InterDigital in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in shares of InterDigital in the third quarter worth approximately $26,000. Mendota Financial Group LLC increased its stake in shares of InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after buying an additional 290 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of InterDigital by 58.8% in the third 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 period. Finally, GAMMA Investing LLC raised its holdings in InterDigital by 81.3% during the 3rd quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock valued at $94,000 after buying an additional 299 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Insider Transactions at InterDigital

In related news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,622 shares of company stock valued at $2,433,251. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Price Performance

IDCC opened at $171.69 on Monday. The stock’s 50 day moving average price is $190.45 and its 200-day moving average price is $157.02. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $207.08. The stock has a market capitalization of $4.35 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.44. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 1.05%. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

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.