InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 58.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,710 shares of the Wireless communications provider’s stock after selling 3,760 shares during the period. Everence Capital Management Inc.’s holdings in InterDigital were worth $525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IDCC. GAMMA Investing LLC lifted its stake in InterDigital by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider’s stock valued at $182,000 after buying an additional 275 shares during the last quarter. Tidal Investments LLC lifted its position in InterDigital by 13.1% in 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. World Investment Advisors LLC acquired a new position in InterDigital during the 3rd quarter valued at about $1,511,000. Sanctuary Advisors LLC grew its position in InterDigital by 24.8% in the 3rd 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. Finally, TD Private Client Wealth LLC raised its holdings in shares of InterDigital by 22.9% during the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Stock Up 3.7 %

NASDAQ IDCC opened at $203.33 on Monday. The company has a market capitalization of $5.15 billion, a P/E ratio of 21.72, a PEG ratio of 0.95 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The company’s 50 day simple moving average is $186.47 and its 200 day simple moving average is $152.34. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $203.90.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.89%. InterDigital’s payout ratio is currently 19.23%.

Insider Transactions at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the sale, the chief executive officer now owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,922 shares of company stock valued at $2,290,360 over the last quarter. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IDCC. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

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.