Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CTO Sells 700 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total value of $152,656.00. Following the sale, the chief technology officer now owns 71,606 shares of the company’s stock, valued at approximately $15,615,836.48. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rajesh Pankaj also recently made the following trade(s):

• On Wednesday, February 5th, Rajesh Pankaj sold 700 shares of InterDigital stock. The stock was sold at an average price of $185.00, for a total value of $129,500.00.
• On Monday, January 6th, Rajesh Pankaj sold 700 shares of InterDigital stock. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00.

InterDigital Price Performance

IDCC stock opened at $217.35 on Monday. The company’s 50-day moving average price is $199.97 and its two-hundred day moving average price is $180.09. The firm has a market cap of $5.58 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.57 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $231.97.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. This is a boost from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 19.93%.

Institutional Investors Weigh In On InterDigital

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Global Retirement Partners LLC increased its stake in shares of InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares during the last quarter. Elequin Capital LP bought a new stake in shares of InterDigital during the 4th quarter worth $29,000. Prudent Man Investment Management Inc. acquired a new stake in InterDigital in the fourth quarter valued at about $39,000. Mendota Financial Group LLC grew its position 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 acquiring an additional 290 shares during the last quarter. Finally, R Squared Ltd acquired a new position in InterDigital during the fourth quarter worth about $70,000. 99.83% of the stock is currently owned by institutional investors.

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.