Cerity Partners LLC Buys 1,229 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• Cerity Partners LLC significantly increased its stake in InterDigital, acquiring an additional 1,229 shares during the 1st quarter, resulting in a total ownership of 2,576 shares valued at $533,000.
• Other major investors also boosted their holdings in InterDigital, with GAMMA Investing LLC increasing its stake by an unprecedented 31,724.6% during the same period.
• InterDigital recently announced a quarterly dividend of $0.60 per share, translating to an annualized yield of 1.07%, with a dividend payout ratio currently at 19.03%.

Cerity Partners LLC increased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 91.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,576 shares of the Wireless communications provider's stock after acquiring an additional 1,229 shares during the quarter. Cerity Partners LLC's holdings in InterDigital were worth $533,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in InterDigital by 5.5% in the 1st quarter. Alps Advisors Inc. now owns 56,498 shares of the Wireless communications provider's stock worth $11,681,000 after purchasing an additional 2,945 shares during the period. Leavell Investment Management Inc. boosted its stake in InterDigital by 3.4% in the 1st quarter. Leavell Investment Management Inc. now owns 1,844 shares of the Wireless communications provider's stock worth $381,000 after purchasing an additional 60 shares during the period. Greenleaf Trust boosted its stake in InterDigital by 19.9% in the 1st quarter. Greenleaf Trust now owns 1,826 shares of the Wireless communications provider's stock worth $378,000 after purchasing an additional 303 shares during the period. Crossmark Global Holdings Inc. boosted its stake in InterDigital by 39.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 2,929 shares of the Wireless communications provider's stock worth $606,000 after purchasing an additional 831 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in InterDigital by 8.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 146,384 shares of the Wireless communications provider's stock worth $30,265,000 after purchasing an additional 11,411 shares during the period. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Price Performance

Shares of IDCC traded up $3.12 during trading hours on Tuesday, reaching $225.23. 30,228 shares of the company's stock traded hands, compared to its average volume of 327,957. The stock has a market cap of $5.84 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.36. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.02. The firm's 50 day simple moving average is $223.26 and its 200-day simple moving average is $209.59. InterDigital, Inc. has a 12 month low of $120.91 and a 12 month high of $237.50.

InterDigital Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.07%. InterDigital's dividend payout ratio is 19.03%.

Insider Activity at InterDigital

In other InterDigital news, Director Samir Armaly sold 779 shares of InterDigital stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.52, for a total value of $176,459.08. Following the transaction, the director directly owned 3,128 shares of the company's stock, valued at $708,554.56. The trade was a 19.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean F. Rankin sold 606 shares of InterDigital 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 transaction, the director directly owned 27,353 shares in the company, valued at $6,194,633.91. This trade represents a 2.17% 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 in the last quarter. 2.30% of the stock is owned by company 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.