Raymond James Financial Inc. Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Raymond James Financial Inc. purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 46,664 shares of the Wireless communications provider’s stock, valued at approximately $9,040,000. Raymond James Financial Inc. owned 0.18% of InterDigital as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of IDCC. Global Retirement Partners LLC boosted its stake in InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares during the period. Mendota Financial Group LLC boosted its stake in InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 290 shares during the period. R Squared Ltd acquired a new position in InterDigital during the 4th quarter valued at about $70,000. Smartleaf Asset Management LLC boosted its stake in InterDigital by 468.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 511 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in InterDigital by 1,209.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider’s stock valued at $129,000 after purchasing an additional 617 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Trading Down 0.8 %

InterDigital stock opened at $217.35 on Friday. 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 firm has a 50-day moving average price of $199.97 and a two-hundred day moving average price of $179.46. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.05, 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.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s payout ratio is presently 19.93%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 1,781 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total transaction of $388,258.00. Following the sale, the insider now directly owns 24,395 shares in the company, valued at approximately $5,318,110. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $218.08, for a total transaction of $152,656.00. Following the sale, the chief technology officer now owns 71,606 shares in the company, valued at $15,615,836.48. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,724 shares of company stock valued at $4,068,936 in the last ninety days. Company insiders own 2.30% of the company’s stock.

About InterDigital

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.