Janney Montgomery Scott LLC Sells 2,942 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Janney Montgomery Scott LLC reduced its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,446 shares of the Wireless communications provider's stock after selling 2,942 shares during the quarter. Janney Montgomery Scott LLC's holdings in InterDigital were worth $1,333,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in shares of InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after buying an additional 111 shares during the period. Elequin Capital LP bought a new stake in shares of InterDigital in the fourth quarter valued at about $29,000. Prudent Man Investment Management Inc. bought a new stake in shares of InterDigital in the fourth quarter valued at about $39,000. Versant Capital Management Inc lifted its stake in shares of 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 buying an additional 182 shares during the period. Finally, Transce3nd LLC bought a new stake in shares of InterDigital in the fourth quarter valued at about $110,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 519 shares of the firm'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 completion of the transaction, the director owned 19,774 shares in the company, valued at $4,481,777.10. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jean F. Rankin sold 606 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.47, for a total transaction of $137,240.82. Following the transaction, the director owned 27,353 shares of the company's stock, valued at approximately $6,194,633.91. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,762 shares of company stock valued at $822,994. 2.30% of the stock is owned by company insiders.

InterDigital Stock Performance

Shares of NASDAQ IDCC traded down $2.38 during mid-day trading on Tuesday, hitting $221.85. The company had a trading volume of 251,580 shares, compared to its average volume of 372,241. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76. The business's 50-day simple moving average is $216.62 and its 200-day simple moving average is $205.16. InterDigital, Inc. has a 12 month low of $116.28 and a 12 month high of $237.50. The firm has a market cap of $5.75 billion, a P/E ratio of 17.59, a PEG ratio of 1.43 and a beta of 1.36.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, July 9th. InterDigital's dividend payout ratio 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.