Crossmark Global Holdings Inc. Reduces Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Crossmark Global Holdings Inc. cut its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 98.2% during the third quarter, Holdings Channel.com reports. The firm owned 2,147 shares of the Wireless communications provider’s stock after selling 114,792 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in InterDigital were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IDCC. Transcendent Capital Group LLC purchased a new stake in shares of InterDigital during the 3rd quarter valued at approximately $25,000. Covestor Ltd increased its stake in InterDigital by 701.7% during the third quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock worth $131,000 after acquiring an additional 807 shares during the last quarter. Assetmark Inc. raised its position in InterDigital by 5.9% in the third quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock valued at $2,688,000 after purchasing an additional 1,060 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $1,007,000. Finally, Leavell Investment Management Inc. purchased a new position in shares of InterDigital during the 3rd quarter worth $232,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Insiders Place Their Bets

In other news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

InterDigital Stock Performance

NASDAQ IDCC opened at $182.07 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $4.61 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.77 and a beta of 1.38. The stock has a 50-day moving average of $151.73 and a two-hundred day moving average of $132.20. InterDigital, Inc. has a 1-year low of $94.10 and a 1-year high of $191.57.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio is presently 19.23%.

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.