Alliancebernstein L.P. Cuts Stake in InterDigital, Inc. (NASDAQ:IDCC)

Alliancebernstein L.P. lessened its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 31,294 shares of the Wireless communications provider’s stock after selling 877 shares during the period. Alliancebernstein L.P.’s holdings in InterDigital were worth $6,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDCC. One Wealth Advisors LLC raised its holdings in shares of InterDigital by 1.8% during the fourth quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock valued at $697,000 after acquiring an additional 64 shares during the last quarter. Savant Capital LLC lifted its holdings in InterDigital by 2.8% in the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock valued at $461,000 after purchasing an additional 64 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in InterDigital by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider’s stock valued at $2,383,000 after purchasing an additional 100 shares in the last quarter. Global Retirement Partners LLC boosted its stake in InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of InterDigital by 1.9% during the fourth quarter. HighTower Advisors LLC now owns 6,309 shares of the Wireless communications provider’s stock worth $1,222,000 after buying an additional 120 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the transaction, the insider now directly owns 30,537 shares in the company, valued at $6,550,491.87. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $181.03, for a total transaction of $126,721.00. Following the sale, the chief technology officer now owns 78,161 shares of the company’s stock, valued at $14,149,485.83. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,833 shares of company stock worth $2,938,660 in the last ninety days. Insiders own 2.30% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $201.93 on Friday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 52 week low of $95.36 and a 52 week high of $231.97. The firm has a 50-day simple moving average of $209.65 and a 200-day simple moving average of $187.83. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.19%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 19.93%.

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.