Edgestream Partners L.P. Boosts Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Edgestream Partners L.P. boosted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 15.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,155 shares of the Wireless communications provider's stock after buying an additional 2,657 shares during the quarter. Edgestream Partners L.P. owned 0.08% of InterDigital worth $4,167,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Florida Financial Advisors LLC acquired a new stake in InterDigital during the 1st quarter worth approximately $253,000. CWM LLC lifted its holdings in InterDigital by 24.0% during the 1st quarter. CWM LLC now owns 1,138 shares of the Wireless communications provider's stock worth $235,000 after buying an additional 220 shares in the last quarter. Xponance Inc. lifted its holdings in InterDigital by 5.5% during the 1st quarter. Xponance Inc. now owns 1,923 shares of the Wireless communications provider's stock worth $398,000 after buying an additional 100 shares in the last quarter. Cerity Partners LLC lifted its holdings in InterDigital by 91.2% during the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider's stock worth $533,000 after buying an additional 1,229 shares in the last quarter. Finally, Alps Advisors Inc. lifted its holdings in InterDigital by 5.5% during the 1st quarter. Alps Advisors Inc. now owns 56,498 shares of the Wireless communications provider's stock worth $11,681,000 after buying an additional 2,945 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Down 1.9%

InterDigital stock traded down $4.35 during mid-day trading on Friday, reaching $225.16. 54,102 shares of the company's stock were exchanged, compared to its average volume of 333,446. InterDigital, Inc. has a twelve month low of $120.18 and a twelve month high of $237.50. The company has a fifty day moving average of $222.14 and a 200-day moving average of $207.85. 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 company has a market cap of $5.84 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.46 and a beta of 1.36.

InterDigital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.07%. InterDigital's payout ratio is 19.03%.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 1,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $224.58, for a total value of $224,580.00. Following the sale, the chief technology officer directly owned 76,580 shares in the company, valued at approximately $17,198,336.40. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Derek K. Aberle sold 692 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the sale, the director owned 6,192 shares in the company, valued at $1,401,930.72. The trade was a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,062 shares of company stock worth $920,853. 2.80% of the stock is currently owned by insiders.

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.