Smithbridge Asset Management Inc. DE Invests $1.65 Million in InterDigital, Inc. (NASDAQ:IDCC)

Smithbridge Asset Management Inc. DE purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,000 shares of the Wireless communications provider's stock, valued at approximately $1,654,000.

A number of other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in shares of InterDigital by 1.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider's stock worth $568,000 after purchasing an additional 51 shares during the last quarter. Savant Capital LLC boosted its position in InterDigital by 2.8% in the fourth quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider's stock valued at $461,000 after buying an additional 64 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of InterDigital by 3.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider's stock worth $513,000 after buying an additional 83 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of InterDigital by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider's stock valued at $2,383,000 after acquiring an additional 100 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of InterDigital by 504.5% in 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. 99.83% of the stock is currently owned by institutional investors.

InterDigital Trading Up 1.8%

IDCC stock traded up $3.83 during trading on Monday, hitting $222.34. The company had a trading volume of 262,022 shares, compared to its average volume of 384,477. The firm has a 50-day moving average price of $209.36 and a 200-day moving average price of $202.62. InterDigital, Inc. has a 12 month low of $114.56 and a 12 month high of $231.97. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.57 and a beta of 1.37.

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 issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Wednesday, July 9th. InterDigital's dividend payout ratio is presently 19.03%.

Insider Activity

In other InterDigital news, Director Derek K. Aberle sold 692 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the completion of the sale, the director now directly owns 6,192 shares of the company's stock, valued at approximately $1,401,930.72. The trade was a 10.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joshua D. Schmidt sold 1,781 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total transaction of $388,258.00. Following the transaction, the insider now directly owns 24,395 shares in the company, valued at $5,318,110. The trade was a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,777 shares of company stock worth $1,255,642. Insiders own 2.80% of the company's stock.

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.