Arkadios Wealth Advisors Increases Stake in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Arkadios Wealth Advisors significantly increased its stake in InterDigital, Inc., raising its holdings by 617.8% to 17,808 shares, valued at approximately $3.68 million.
• Several other hedge funds also boosted their investments in InterDigital, including Picton Mahoney Asset Management, which grew its holdings by a staggering 2,764.1%.
• InterDigital recently announced a quarterly dividend of $0.60 per share, representing an annualized dividend of $2.40 and a yield of 0.98%.

Arkadios Wealth Advisors grew its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 617.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,808 shares of the Wireless communications provider's stock after purchasing an additional 15,327 shares during the quarter. Arkadios Wealth Advisors owned approximately 0.07% of InterDigital worth $3,682,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of InterDigital by 54.2% in the fourth quarter. LPL Financial LLC now owns 7,996 shares of the Wireless communications provider's stock valued at $1,549,000 after buying an additional 2,810 shares in the last quarter. Norges Bank purchased a new position in shares of InterDigital in the fourth quarter worth about $17,387,000. New Age Alpha Advisors LLC bought a new position in shares of InterDigital in the fourth quarter valued at approximately $365,000. Pictet Asset Management Holding SA boosted its position in shares of InterDigital by 15.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,339 shares of the Wireless communications provider's stock valued at $647,000 after acquiring an additional 438 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in InterDigital during the fourth quarter valued at approximately $19,572,000. 99.83% of the stock is owned by institutional investors.

InterDigital Price Performance

Shares of NASDAQ IDCC traded down $5.40 during trading hours on Friday, reaching $252.80. 426,779 shares of the stock traded hands, compared to its average volume of 274,102. The company has a market capitalization of $6.56 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.76, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. InterDigital, Inc. has a 52-week low of $129.76 and a 52-week high of $277.95. The company's 50-day simple moving average is $225.71 and its two-hundred day simple moving average is $210.98.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The firm had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. During the same period in the previous year, the business posted $4.57 EPS. The business's quarterly revenue was up 34.5% on a year-over-year basis. Equities research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, July 9th. InterDigital's dividend payout ratio is currently 17.11%.

Insider Activity at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 692 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.41, for a total value of $156,675.72. Following the completion of the transaction, the director directly owned 6,192 shares in the company, valued at approximately $1,401,930.72. This represents a 10.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was 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. Insiders sold a total of 4,062 shares of company stock worth $920,853 over the last ninety days. Insiders own 2.80% of the company's stock.

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.