Axxcess Wealth Management LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

Axxcess Wealth Management LLC acquired a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 6,322 shares of the Wireless communications provider’s stock, valued at approximately $1,225,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IDCC. Tocqueville Asset Management L.P. grew its position in InterDigital by 17.9% in the 4th quarter. Tocqueville Asset Management L.P. now owns 1,722 shares of the Wireless communications provider’s stock valued at $334,000 after acquiring an additional 261 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of InterDigital in the fourth quarter valued at approximately $458,000. Gallacher Capital Management LLC increased its stake in InterDigital by 6.9% during the 4th quarter. Gallacher Capital Management LLC now owns 2,273 shares of the Wireless communications provider’s stock worth $440,000 after buying an additional 147 shares during the period. Natixis Advisors LLC lifted its holdings in InterDigital by 9.1% during the 4th quarter. Natixis Advisors LLC now owns 10,995 shares of the Wireless communications provider’s stock worth $2,130,000 after buying an additional 921 shares in the last quarter. Finally, Aurora Investment Counsel purchased a new position in InterDigital in the 4th quarter valued at approximately $1,171,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 0.8 %

InterDigital stock opened at $219.14 on Friday. The firm has a market capitalization of $5.63 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.57 and a beta of 1.45. 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 twelve month low of $95.33 and a twelve month high of $231.97. The stock’s fifty day simple moving average is $199.33 and its 200-day simple moving average is $178.92.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.10%. InterDigital’s dividend payout ratio is 19.93%.

Insider Buying and Selling at InterDigital

In related news, CFO Richard Brezski sold 9,602 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares of the company’s stock, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua D. Schmidt sold 1,781 shares of InterDigital stock in a transaction that occurred 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 transaction, the insider now owns 24,395 shares of the company’s stock, valued at $5,318,110. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,024 shares of company stock valued at $3,916,280 in the last quarter. Corporate insiders own 2.30% 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.