New Vernon Capital Holdings II LLC Cuts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

New Vernon Capital Holdings II LLC lessened its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 82.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808 shares of the Wireless communications provider's stock after selling 3,830 shares during the period. New Vernon Capital Holdings II LLC's holdings in InterDigital were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Global Retirement Partners LLC increased its stake 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. Prudent Man Investment Management Inc. bought a new position in shares of InterDigital during the 4th quarter valued at $39,000. Mendota Financial Group LLC increased its stake in shares of InterDigital by 14,500.0% in the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after purchasing an additional 290 shares in the last quarter. R Squared Ltd purchased a new stake in shares of InterDigital in the 4th quarter worth $70,000. Finally, Transce3nd LLC purchased a new stake in InterDigital in the 4th quarter worth $110,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

InterDigital Trading Down 0.6 %

Shares of NASDAQ:IDCC traded down $1.25 during trading on Wednesday, reaching $199.28. The company's stock had a trading volume of 109,653 shares, compared to its average volume of 408,226. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 12 month low of $97.51 and a 12 month high of $231.97. The firm's 50 day simple moving average is $205.73 and its two-hundred day simple moving average is $191.88. The stock has a market capitalization of $5.12 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a $0.60 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.20%. InterDigital's dividend payout ratio (DPR) is presently 19.93%.

Insider Activity at InterDigital

In related news, insider Joshua D. Schmidt sold 1,781 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total transaction of $388,258.00. Following the completion of the sale, the insider now directly owns 24,395 shares in the company, valued at $5,318,110. This represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now owns 52,396 shares of the company's stock, valued at $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,833 shares of company stock valued at $2,938,660. Insiders own 2.30% of the company's stock.

InterDigital Company 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.