Apollon Wealth Management LLC Sells 82 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Apollon Wealth Management LLC reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,175 shares of the Wireless communications provider’s stock after selling 82 shares during the quarter. Apollon Wealth Management LLC’s holdings in InterDigital were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after acquiring an additional 17,238 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of InterDigital by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock worth $127,392,000 after acquiring an additional 10,532 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after buying an additional 741,820 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock valued at $30,420,000 after buying an additional 48,137 shares in the last quarter. Finally, Reinhart Partners LLC. bought a new position in shares of InterDigital in the third quarter valued at $27,762,000. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This represents a 10.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

InterDigital Trading Up 0.6 %

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

InterDigital Increases Dividend

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

Analysts Set New Price Targets

IDCC has been the subject of several analyst reports. Roth Mkm raised their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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.