Larson Financial Group LLC Has $188,000 Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Larson Financial Group LLC cut its position in InterDigital, Inc. (NASDAQ:IDCC) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,729 shares of the Wireless communications provider’s stock after selling 436 shares during the quarter. Larson Financial Group LLC’s holdings in InterDigital were worth $188,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in InterDigital in the 3rd quarter valued at $68,000. Parkside Financial Bank & Trust boosted its holdings in InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the period. Precision Wealth Strategies LLC bought a new stake in InterDigital in the 3rd quarter valued at $203,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in InterDigital in the 3rd quarter valued at $203,000. 99.83% of the stock is owned by institutional investors.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total value of $61,964.50. Following the sale, the chief technology officer now owns 64,939 shares of the company’s stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Eeva K. Hakoranta sold 699 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction of $66,943.23. Following the transaction, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

IDCC has been the subject of a number of analyst reports. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

InterDigital Stock Up 0.7 %

Shares of NASDAQ IDCC opened at $99.66 on Thursday. The stock has a market cap of $2.54 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.81 and a beta of 1.34. The firm has a 50 day moving average price of $103.50 and a 200 day moving average price of $99.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. InterDigital, Inc. has a 52-week low of $66.82 and a 52-week high of $119.86.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. Analysts expect that InterDigital, Inc. will post 7.02 EPS for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Tuesday, April 9th. InterDigital’s payout ratio is currently 21.33%.

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.