InterDigital, Inc. (NASDAQ:IDCC) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. grew its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 152,729.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,622 shares of the Wireless communications provider's stock after buying an additional 114,547 shares during the period. Bessemer Group Inc. owned 0.45% of InterDigital worth $23,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDCC. Yorktown Management & Research Co Inc acquired a new stake in shares of InterDigital in the first quarter valued at about $300,000. Oppenheimer Asset Management Inc. lifted its holdings in InterDigital by 3.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,914 shares of the Wireless communications provider's stock worth $396,000 after buying an additional 59 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in InterDigital by 4.3% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,821 shares of the Wireless communications provider's stock worth $377,000 after buying an additional 75 shares during the last quarter. Avantra Family Wealth Inc. bought a new position in InterDigital during the 1st quarter worth approximately $207,000. Finally, PFG Investments LLC lifted its holdings in InterDigital by 2.2% during the 1st quarter. PFG Investments LLC now owns 13,030 shares of the Wireless communications provider's stock worth $2,694,000 after buying an additional 275 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Derek K. Aberle sold 692 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.41, for a total value of $156,675.72. Following the sale, the director now owns 6,192 shares of the company's stock, valued at approximately $1,401,930.72. This trade represents a 10.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jean F. Rankin sold 606 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the sale, the director now directly owns 27,353 shares in the company, valued at approximately $6,194,633.91. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,296 shares of company stock valued at $714,728. Insiders own 2.80% of the company's stock.

InterDigital Stock Performance

NASDAQ:IDCC traded up $3.66 during trading hours on Friday, reaching $230.93. 451,364 shares of the stock were exchanged, compared to its average volume of 373,036. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $214.28 and a 200-day simple moving average of $204.45. InterDigital, Inc. has a 52 week low of $115.10 and a 52 week high of $237.50. The stock has a market capitalization of $5.99 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.47 and a beta of 1.37.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) is 19.03%.

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.