Franklin Resources Inc. Sells 3,938 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Franklin Resources Inc. lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,834 shares of the Wireless communications provider’s stock after selling 3,938 shares during the quarter. Franklin Resources Inc. owned approximately 0.13% of InterDigital worth $6,361,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Global Retirement Partners LLC increased its position in shares of InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of InterDigital during the fourth quarter valued at approximately $39,000. Mendota Financial Group LLC increased its position in shares of InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. R Squared Ltd purchased a new stake in shares of InterDigital during the fourth quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC increased its position in shares of InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 511 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

Shares of IDCC opened at $207.07 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.57 and a beta of 1.44. The stock has a 50 day moving average of $208.89 and a 200 day moving average of $186.94. InterDigital, Inc. has a 12 month low of $95.36 and a 12 month high of $231.97.

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 78,161 shares of the company’s stock, valued at $14,149,485.83. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eeva K. Hakoranta sold 350 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the sale, the insider now directly owns 30,537 shares of the company’s stock, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,833 shares of company stock valued at $2,938,660. 2.30% of the stock is owned by insiders.

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.