Apollon Wealth Management LLC Has $308,000 Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Apollon Wealth Management LLC lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,175 shares of the Wireless communications provider’s stock after selling 82 shares during the quarter. Apollon Wealth Management LLC’s holdings in InterDigital were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Versor Investments LP acquired a new position in InterDigital in the third quarter valued at about $1,091,000. Transcendent Capital Group LLC acquired a new position in InterDigital in the third quarter valued at about $25,000. Covestor Ltd raised its stake in InterDigital by 701.7% in the third quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock valued at $131,000 after purchasing an additional 807 shares in the last quarter. Assetmark Inc. raised its stake in InterDigital by 5.9% in the third quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock valued at $2,688,000 after purchasing an additional 1,060 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in InterDigital in the third quarter valued at about $1,007,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Performance

InterDigital stock opened at $182.07 on Monday. The stock has a market cap of $4.61 billion, a PE ratio of 19.45, a P/E/G ratio of 0.77 and a beta of 1.38. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $151.73 and its two-hundred day moving average price is $132.20. InterDigital, Inc. has a 12-month low of $94.10 and a 12-month high of $191.57.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Wednesday, October 9th. InterDigital’s payout ratio is 19.23%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

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.