Congress Wealth Management LLC DE Makes New $8.57 Million Investment in InterDigital, Inc. (NASDAQ:IDCC)

Congress Wealth Management LLC DE acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 44,240 shares of the Wireless communications provider’s stock, valued at approximately $8,570,000.

Other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC bought a new stake in InterDigital during the third quarter valued at $1,427,000. Flagship Harbor Advisors LLC acquired a new position in shares of InterDigital in the 4th quarter valued at about $338,000. Kovitz Investment Group Partners LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at about $380,000. Reinhart Partners LLC. grew its stake in InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after purchasing an additional 164,223 shares during the period. Finally, Amundi increased its holdings in InterDigital by 57.0% in the fourth quarter. Amundi now owns 20,897 shares of the Wireless communications provider’s stock worth $3,989,000 after purchasing an additional 7,586 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Price Performance

InterDigital stock opened at $221.60 on Tuesday. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $231.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s 50 day moving average price is $200.81 and its two-hundred day moving average price is $180.71.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.08%. InterDigital’s dividend payout ratio is currently 19.93%.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 owns 52,396 shares of the company’s stock, valued at approximately $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of the company’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 value of $2,066,446.42. Following the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,833 shares of company stock valued at $2,954,830. 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.