Westside Investment Management Inc. Has $897,000 Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Westside Investment Management Inc. decreased its stake in InterDigital, Inc. (NASDAQ:IDCC) by 3.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,628 shares of the Wireless communications provider’s stock after selling 175 shares during the quarter. Westside Investment Management Inc.’s holdings in InterDigital were worth $897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in InterDigital by 164.2% in the second quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider’s stock valued at $13,734,000 after purchasing an additional 73,227 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of InterDigital by 2.0% in the 2nd quarter. Hsbc Holdings PLC now owns 8,461 shares of the Wireless communications provider’s stock valued at $988,000 after buying an additional 168 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of InterDigital in the second quarter valued at $457,000. Public Sector Pension Investment Board increased its holdings in InterDigital by 5.4% during the second quarter. Public Sector Pension Investment Board now owns 55,514 shares of the Wireless communications provider’s stock worth $6,471,000 after buying an additional 2,830 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in InterDigital by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock worth $1,643,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Buying and Selling at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the transaction, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now owns 164,543 shares of the company’s stock, valued at $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,622 shares of company stock worth $2,433,251 over the last ninety days. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Stock Performance

Shares of NASDAQ IDCC opened at $173.50 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $4.40 billion, a P/E ratio of 18.52, a P/E/G ratio of 1.96 and a beta of 1.44. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $207.08. The stock has a 50 day moving average of $189.78 and a 200-day moving average of $157.76.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.04%. InterDigital’s dividend payout ratio (DPR) is 19.23%.

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.