Bank of Montreal Can Sells 4,392,273 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Bank of Montreal Can reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 97.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,009 shares of the Wireless communications provider’s stock after selling 4,392,273 shares during the period. Bank of Montreal Can’s holdings in InterDigital were worth $20,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in InterDigital in the 3rd quarter valued at $234,000. Wellington Management Group LLP increased its holdings in shares of InterDigital by 6.0% in the third quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider’s stock worth $22,052,000 after purchasing an additional 8,824 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of InterDigital in the third quarter worth about $380,000. Geode Capital Management LLC boosted its stake in InterDigital by 0.7% during the third quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock valued at $83,968,000 after buying an additional 3,975 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in InterDigital by 22.9% during the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 168 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ:IDCC opened at $201.93 on Friday. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 1 year low of $95.36 and a 1 year high of $231.97. The stock’s 50 day simple moving average is $209.65 and its two-hundred day simple moving average is $187.83. 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 declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s payout ratio is currently 19.93%.

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the transaction, the chief technology officer now owns 78,161 shares in the company, valued at approximately $14,149,485.83. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the business’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 transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % 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 valued at $2,938,660 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

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.