Emerald Mutual Fund Advisers Trust Sells 24,640 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Emerald Mutual Fund Advisers Trust lowered its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,482 shares of the Wireless communications provider's stock after selling 24,640 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.37% of InterDigital worth $18,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDCC. Global Retirement Partners LLC lifted its position in shares of InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after buying an additional 111 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in InterDigital during the 4th quarter valued at $39,000. Mendota Financial Group LLC boosted its position in InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after purchasing an additional 290 shares during the period. R Squared Ltd acquired a new position in shares of InterDigital in the fourth quarter valued at $70,000. Finally, Transce3nd LLC bought a new position in shares of InterDigital in the fourth quarter valued at about $110,000. Institutional investors own 99.83% of the company's stock.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the transaction, the chief technology officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction dated 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 sale, the chief financial officer now owns 102,555 shares of the company's stock, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,833 shares of company stock valued at $2,938,660. Insiders own 2.30% of the company's stock.

InterDigital Stock Performance

Shares of IDCC stock traded up $8.82 during midday trading on Friday, hitting $210.97. 610,580 shares of the company were exchanged, compared to its average volume of 405,953. The firm has a market capitalization of $5.48 billion, a P/E ratio of 17.52, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. InterDigital, Inc. has a 52 week low of $103.79 and a 52 week high of $231.97. The firm's 50 day moving average price is $205.40 and its two-hundred day moving average price is $193.17.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio (DPR) is 19.93%.

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.