Legal & General Group Plc Reduces Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Legal & General Group Plc lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,445 shares of the Wireless communications provider’s stock after selling 1,806 shares during the period. Legal & General Group Plc owned approximately 0.29% of InterDigital worth $14,228,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 3,975 shares during the period. Sanctuary Advisors LLC boosted its position in InterDigital by 24.8% in the third quarter. Sanctuary Advisors LLC now owns 6,376 shares of the Wireless communications provider’s stock worth $903,000 after purchasing an additional 1,265 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of InterDigital during the 3rd quarter valued at about $1,511,000. Tidal Investments LLC increased its position in shares of InterDigital by 13.1% during the 3rd quarter. Tidal Investments LLC now owns 10,923 shares of the Wireless communications provider’s stock valued at $1,547,000 after purchasing an additional 1,269 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of InterDigital by 41.2% in the 4th quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider’s stock worth $182,000 after purchasing an additional 275 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Performance

IDCC opened at $202.93 on Wednesday. The company’s 50 day moving average is $209.86 and its 200 day moving average is $188.70. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 12-month low of $95.36 and a 12-month high of $231.97.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given 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 1.18%. InterDigital’s payout ratio is presently 19.93%.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the completion of the sale, the chief technology officer now directly owns 52,396 shares of the company’s stock, valued at $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the transaction, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,833 shares of company stock worth $2,938,660 in the last three months. Corporate insiders own 2.30% of the company’s stock.

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.