InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 98.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,499 shares of the Wireless communications provider’s stock after selling 1,979,171 shares during the period. Citigroup Inc. owned approximately 0.14% of InterDigital worth $5,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC purchased a new stake in InterDigital during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in InterDigital during the third quarter worth about $26,000. 1620 Investment Advisors Inc. purchased a new stake in shares of InterDigital in the 2nd quarter worth about $29,000. GAMMA Investing LLC raised its holdings in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after acquiring an additional 124 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

InterDigital Stock Performance

Shares of IDCC opened at $196.57 on Tuesday. The company’s fifty day moving average price is $162.85 and its 200 day moving average price is $138.14. InterDigital, Inc. has a one year low of $95.33 and a one year high of $199.79. The company has a market capitalization of $4.98 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a $0.45 dividend. The ex-dividend date was Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. InterDigital’s dividend payout ratio is 19.23%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now owns 24,138 shares of the company’s stock, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock valued at $472,253 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

InterDigital Company 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.