Alps Advisors Inc. Purchases 2,945 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Alps Advisors Inc. lifted its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,498 shares of the Wireless communications provider's stock after acquiring an additional 2,945 shares during the quarter. Alps Advisors Inc. owned approximately 0.22% of InterDigital worth $11,681,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in InterDigital by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock valued at $928,000 after buying an additional 316 shares during the period. Amundi grew its position in InterDigital by 57.0% during the fourth quarter. Amundi now owns 20,897 shares of the Wireless communications provider's stock valued at $3,989,000 after buying an additional 7,586 shares during the period. Steward Partners Investment Advisory LLC grew its position in InterDigital by 1,209.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider's stock valued at $129,000 after buying an additional 617 shares during the period. Raymond James Financial Inc. bought a new position in InterDigital during the fourth quarter valued at about $9,040,000. Finally, GAMMA Investing LLC grew its position in InterDigital by 53.9% during the first quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider's stock valued at $300,000 after buying an additional 508 shares during the period. Institutional investors own 99.83% of the company's stock.

InterDigital Stock Performance

NASDAQ:IDCC traded down $4.02 on Friday, reaching $225.27. 252,547 shares of the company's stock were exchanged, compared to its average volume of 368,391. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.44 and a beta of 1.36. InterDigital, Inc. has a 52 week low of $120.18 and a 52 week high of $237.50. The stock has a fifty day simple moving average of $220.95 and a 200-day simple moving average of $207.02.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.07%. InterDigital's dividend payout ratio is presently 19.03%.

Insider Activity

In other InterDigital news, Director Samir Armaly sold 779 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.52, for a total transaction of $176,459.08. Following the completion of the transaction, the director owned 3,128 shares in the company, valued at $708,554.56. This trade represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction that occurred on 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 owned 76,580 shares of the company's stock, valued at $17,198,336.40. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,062 shares of company stock valued at $920,853. 2.80% of the stock is currently owned by corporate insiders.

InterDigital 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.