Principal Financial Group Inc. Sells 8,158 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Principal Financial Group Inc. trimmed its position in InterDigital, Inc. (NASDAQ:IDCC) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 137,016 shares of the Wireless communications provider’s stock after selling 8,158 shares during the quarter. Principal Financial Group Inc.’s holdings in InterDigital were worth $19,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares in the last quarter. Reinhart Partners LLC. acquired a new position in shares of InterDigital in the 3rd quarter valued at $27,762,000. Emerald Advisers LLC raised its stake in InterDigital by 127,997.9% in the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after acquiring an additional 120,318 shares during the last quarter. International Assets Investment Management LLC lifted its position in InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after acquiring an additional 113,264 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in shares of InterDigital by 473.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock valued at $11,244,000 after purchasing an additional 79,648 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. This represents a 20.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,205 shares of company stock valued at $716,218. Corporate insiders own 2.30% of the company’s stock.

InterDigital Trading Down 1.8 %

Shares of NASDAQ:IDCC opened at $181.06 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a 12-month low of $93.33 and a 12-month high of $191.57. The business has a 50 day moving average of $150.74 and a two-hundred day moving average of $131.17. The company has a market capitalization of $4.59 billion, a PE ratio of 19.34, a PEG ratio of 0.80 and a beta of 1.38.

InterDigital Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

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.