Allianz Asset Management GmbH Boosts Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in InterDigital, owning 68,761 shares after purchasing an additional 66,735 shares, representing a 3,293.9% increase in the first quarter.
• InterDigital recently announced a quarterly dividend of $0.60 per share, translating to an annualized dividend of $2.40 and a yield of 1.07%.
• Insider activity included sales by directors who sold shares, decreasing their ownership stakes, with a total of 4,062 shares sold by insiders in the last 90 days.

Allianz Asset Management GmbH boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 3,293.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,761 shares of the Wireless communications provider's stock after buying an additional 66,735 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.26% of InterDigital worth $14,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its holdings in InterDigital by 3.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after acquiring an additional 21,319 shares in the last quarter. Geode Capital Management LLC boosted its holdings in InterDigital by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $115,240,000 after acquiring an additional 1,991 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in InterDigital by 13.9% in the first quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after acquiring an additional 50,204 shares in the last quarter. Congress Asset Management Co. boosted its holdings in InterDigital by 5.0% in the first quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock valued at $70,109,000 after acquiring an additional 16,040 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in InterDigital by 4.7% in the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock valued at $63,511,000 after acquiring an additional 14,809 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total transaction of $224,580.00. Following the completion of the transaction, the chief technology officer directly owned 76,580 shares of the company's stock, valued at $17,198,336.40. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Derek K. Aberle sold 692 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the sale, the director directly owned 6,192 shares in the company, valued at $1,401,930.72. The trade was a 10.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,062 shares of company stock valued at $920,853 over the last quarter. 2.30% of the stock is owned by company insiders.

InterDigital Trading Up 0.6%

NASDAQ:IDCC traded up $1.32 during trading hours on Tuesday, hitting $223.43. The company had a trading volume of 53,625 shares, compared to its average volume of 328,113. The company has a market capitalization of $5.80 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.43 and a beta of 1.36. The stock has a 50-day moving average price of $223.26 and a 200 day moving average price of $209.59. InterDigital, Inc. has a 52 week low of $120.91 and a 52 week high of $237.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.07%. The ex-dividend date was Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) is currently 19.03%.

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.