Principal Financial Group Inc. Has $30.75 Million Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Principal Financial Group Inc. raised its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,747 shares of the Wireless communications provider's stock after acquiring an additional 5,374 shares during the period. Principal Financial Group Inc. owned about 0.58% of InterDigital worth $30,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. Elequin Capital LP bought a new position in InterDigital in the fourth quarter valued at about $29,000. Prudent Man Investment Management Inc. bought a new position in InterDigital in the fourth quarter valued at about $39,000. Versant Capital Management Inc grew its position in InterDigital by 957.9% in the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after acquiring an additional 182 shares during the last quarter. Transce3nd LLC bought a new position in InterDigital in the fourth quarter valued at about $110,000. Finally, Steward Partners Investment Advisory LLC grew its position in InterDigital by 1,209.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider's stock valued at $129,000 after acquiring an additional 617 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

Insider Activity at InterDigital

In related news, Director Samir Armaly sold 779 shares of the company's 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 sale, the director directly owned 3,128 shares in the company, valued at $708,554.56. This represents a 19.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 519 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director owned 19,774 shares in the company, valued at $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,062 shares of company stock valued at $920,853. Corporate insiders own 2.80% of the company's stock.

InterDigital Trading Up 0.9%

Shares of NASDAQ:IDCC traded up $1.97 during midday trading on Friday, hitting $231.26. 23,766 shares of the stock were exchanged, compared to its average volume of 366,897. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The business's 50-day moving average price is $220.67 and its 200 day moving average price is $206.69. InterDigital, Inc. has a 12 month low of $120.18 and a 12 month high of $237.50.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.60 per share. 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 currently 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.