Principal Financial Group Inc. Buys 5,374 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Principal Financial Group Inc. grew its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,747 shares of the Wireless communications provider's stock after buying an additional 5,374 shares during the period. Principal Financial Group Inc. owned 0.58% of InterDigital worth $30,753,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Elequin Capital LP purchased a new position in shares of InterDigital in the 4th quarter worth about $29,000. Prudent Man Investment Management Inc. purchased a new position in shares of InterDigital in the 4th quarter worth about $39,000. Versant Capital Management Inc raised its position in shares of InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock worth $42,000 after purchasing an additional 182 shares during the last quarter. Transce3nd LLC purchased a new position in shares of InterDigital in the 4th quarter worth about $110,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of InterDigital by 1,209.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider's stock worth $129,000 after purchasing an additional 617 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

In other InterDigital news, Director Jean F. Rankin sold 606 shares of the business's stock in a transaction dated 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 owned 27,353 shares of the company's stock, valued at approximately $6,194,633.91. The trade was a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 519 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the sale, the director directly owned 19,774 shares of the company's stock, valued at $4,481,777.10. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock worth $920,853 in the last quarter. Insiders own 2.80% of the company's stock.

InterDigital Stock Up 1.2%

Shares of IDCC traded up $2.75 during trading hours on Thursday, hitting $229.37. The company had a trading volume of 102,702 shares, compared to its average volume of 367,276. The firm has a fifty day moving average price of $220.13 and a 200-day moving average price of $206.42. 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 stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 1.44 and a beta of 1.36. InterDigital, Inc. has a 52-week low of $120.18 and a 52-week high of $237.50.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) is 19.03%.

About InterDigital

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.