Vanguard Group Inc. Has $681.15 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Vanguard Group Inc. trimmed its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,294,537 shares of the Wireless communications provider's stock after selling 5,372 shares during the period. Vanguard Group Inc. owned about 12.70% of InterDigital worth $681,146,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Elequin Capital LP purchased a new stake in InterDigital during the fourth quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in InterDigital during the first quarter worth about $32,000. Concord Wealth Partners acquired a new stake in InterDigital during the first quarter worth about $37,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 182 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of InterDigital by 237.5% in the first quarter. Harbour Investments Inc. now owns 378 shares of the Wireless communications provider's stock valued at $78,000 after purchasing an additional 266 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Rajesh Pankaj sold 1,000 shares of InterDigital stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total transaction of $224,580.00. Following the sale, the chief technology officer directly owned 76,580 shares in the company, valued at $17,198,336.40. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $232.33, for a total transaction of $108,265.78. Following the completion of the sale, the insider owned 28,804 shares in the company, valued at approximately $6,692,033.32. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,062 shares of company stock valued at $920,853 over the last three months. Company insiders own 2.80% of the company's stock.

InterDigital Stock Down 0.4%

InterDigital stock traded down $1.01 during trading on Friday, reaching $268.74. The stock had a trading volume of 157,015 shares, compared to its average volume of 295,869. The stock has a market cap of $6.93 billion, a PE ratio of 19.15, a P/E/G ratio of 1.64 and a beta of 1.37. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 52-week low of $129.76 and a 52-week high of $277.95. The business has a 50 day moving average price of $235.97 and a 200 day moving average price of $217.79.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $3.75. The company had revenue of $300.60 million for the quarter, compared to analysts' expectations of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. InterDigital's revenue was up 34.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.57 EPS. On average, analysts predict that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $2.40 annualized dividend and a yield of 0.9%. InterDigital's dividend payout ratio (DPR) is 17.11%.

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.