Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,789 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 55.7% in the fourth quarter, Holdings Channel reports. The firm owned 10,588 shares of the Wireless communications provider’s stock after acquiring an additional 3,789 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in InterDigital were worth $2,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Disciplined Growth Investors Inc. MN grew its stake in shares of InterDigital by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after acquiring an additional 39,891 shares during the period. Geode Capital Management LLC grew its stake 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. Reinhart Partners LLC. grew its stake in shares of InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after acquiring an additional 164,223 shares during the period. Congress Asset Management Co. bought a new stake in shares of InterDigital in the fourth quarter worth approximately $62,583,000. Finally, Wellington Management Group LLP grew its stake in shares of InterDigital by 6.0% in the third quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider’s stock worth $22,052,000 after acquiring an additional 8,824 shares during the period. 99.83% of the stock is currently owned by institutional investors.

InterDigital Stock Performance

Shares of IDCC stock opened at $217.09 on Monday. The company has a 50 day moving average price of $197.16 and a 200-day moving average price of $177.19. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.96. The firm has a market capitalization of $5.58 billion, a PE ratio of 18.03, 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.11%. InterDigital’s payout ratio is currently 19.93%.

Insider Transactions at InterDigital

In related news, insider Eeva K. Hakoranta sold 350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the transaction, the insider now owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Brezski sold 9,602 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,134 shares of company stock worth $4,678,770 over the last three months. 2.30% of the stock is currently owned by company insiders.

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.