InterDigital, Inc. Declares Quarterly Dividend of $0.60 (NASDAQ:IDCC)

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Wednesday, July 9th will be given a dividend of 0.60 per share by the Wireless communications provider on Wednesday, July 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.08%.

InterDigital has a dividend payout ratio of 36.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect InterDigital to earn $6.86 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 35.0%.

InterDigital Trading Down 0.0%

NASDAQ IDCC traded down $0.10 during trading on Thursday, reaching $221.84. 222,262 shares of the stock traded hands, compared to its average volume of 384,677. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The stock's 50-day moving average price is $208.29 and its 200 day moving average price is $202.19. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital has a fifty-two week low of $114.56 and a fifty-two week high of $231.97.

Insider Activity

In other news, Director Jean F. Rankin sold 606 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $226.47, for a total value of $137,240.82. Following the transaction, the director now directly owns 27,353 shares of the company's stock, valued at $6,194,633.91. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Kritzmacher sold 519 shares of the 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 now directly owns 19,774 shares in the company, valued at $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,777 shares of company stock worth $1,255,642 over the last quarter. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of InterDigital

A hedge fund recently raised its stake in InterDigital stock. NewEdge Advisors LLC increased its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 37.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,911 shares of the Wireless communications provider's stock after buying an additional 1,069 shares during the period. NewEdge Advisors LLC's holdings in InterDigital were worth $809,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 99.83% of the company's stock.

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.

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