Larson Financial Group LLC Lowers Stake in InterDigital, Inc. (NASDAQ:IDCC)

Larson Financial Group LLC reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 81.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 265 shares of the Wireless communications provider’s stock after selling 1,153 shares during the quarter. Larson Financial Group LLC’s holdings in InterDigital were worth $51,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. purchased a new stake in InterDigital in the fourth quarter worth about $406,000. Edgestream Partners L.P. lifted its stake in InterDigital by 371.3% in the fourth quarter. Edgestream Partners L.P. now owns 17,498 shares of the Wireless communications provider’s stock worth $3,390,000 after acquiring an additional 13,785 shares during the period. Beacon Harbor Wealth Advisors Inc. purchased a new stake in InterDigital in the fourth quarter worth about $7,062,000. Inceptionr LLC purchased a new stake in InterDigital in the fourth quarter worth about $387,000. Finally, Raymond James Financial Inc. purchased a new stake in InterDigital in the fourth quarter worth about $9,040,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other InterDigital news, CFO Richard Brezski sold 9,602 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total transaction of $75,078.50. Following the sale, the insider now directly owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,134 shares of company stock valued at $4,678,770 over the last three months. 2.30% of the stock is owned by company insiders.

InterDigital Stock Down 0.1 %

NASDAQ:IDCC opened at $212.48 on Thursday. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $231.96. The company has a 50-day moving average of $196.65 and a 200 day moving average of $175.80. The firm has a market cap of $5.46 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.13%. InterDigital’s dividend payout ratio 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.