PNC Financial Services Group Inc. Sells 80 Shares of InterDigital, Inc. (NASDAQ:IDCC)

PNC Financial Services Group Inc. lowered its stake in InterDigital, Inc. (NASDAQ:IDCC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,165 shares of the Wireless communications provider’s stock after selling 80 shares during the period. PNC Financial Services Group Inc.’s holdings in InterDigital were worth $419,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. One Wealth Advisors LLC boosted its position in shares of InterDigital by 1.8% in the 4th quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock worth $697,000 after purchasing an additional 64 shares in the last quarter. Savant Capital LLC boosted its holdings in InterDigital by 2.8% in the fourth quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock worth $461,000 after acquiring an additional 64 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of InterDigital by 0.5% in the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after acquiring an additional 68 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of InterDigital by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider’s stock valued at $2,383,000 after acquiring an additional 100 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $219.14 on Friday. The firm has a market cap of $5.63 billion, a P/E ratio of 18.20, a PEG ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $231.97. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $199.33 and a 200 day moving average of $178.92.

InterDigital Increases Dividend

The company 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. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 19.93%.

Insider Buying and Selling

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of InterDigital stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the transaction, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the sale, the chief executive officer now owns 158,652 shares of the company’s stock, valued at $30,004,266.24. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,024 shares of company stock valued at $3,916,280 over the last 90 days. Company 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.