Westside Investment Management Inc. Sells 1,095 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Westside Investment Management Inc. trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 23.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,533 shares of the Wireless communications provider's stock after selling 1,095 shares during the period. Westside Investment Management Inc.'s holdings in InterDigital were worth $730,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after acquiring an additional 111 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of InterDigital during the fourth quarter valued at $29,000. Prudent Man Investment Management Inc. acquired a new position in shares of InterDigital in the 4th quarter valued at $39,000. Versant Capital Management Inc boosted 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 valued at $42,000 after purchasing an additional 182 shares during the period. Finally, Transce3nd LLC purchased a new position in InterDigital in the 4th quarter worth about $110,000. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Trading Up 1.2%

IDCC stock traded up $2.76 during mid-day trading on Thursday, reaching $224.36. 120,699 shares of the stock traded hands, compared to its average volume of 370,730. The stock's fifty day moving average is $217.22 and its 200-day moving average is $205.28. The company has a market cap of $5.82 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.42 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. InterDigital, Inc. has a 52-week low of $117.55 and a 52-week high of $237.50.

InterDigital Announces Dividend

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

Insider Activity

In other news, Director Samir Armaly sold 779 shares of the stock in a transaction 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 completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Kritzmacher sold 519 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director directly owned 19,774 shares of the company's stock, valued at approximately $4,481,777.10. This represents 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 3,762 shares of company stock worth $822,994. 2.80% of the stock is owned by corporate insiders.

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.