Beacon Harbor Wealth Advisors Inc. Invests $7.06 Million in InterDigital, Inc. (NASDAQ:IDCC)

Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,453 shares of the Wireless communications provider’s stock, valued at approximately $7,062,000. InterDigital makes up about 1.6% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Congress Asset Management Co. bought a new stake in InterDigital in the 4th quarter worth approximately $62,583,000. Reinhart Partners LLC. lifted its position in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after buying an additional 164,223 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in InterDigital by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after buying an additional 48,137 shares during the last quarter. Raymond James Financial Inc. bought a new stake in InterDigital in the 4th quarter worth approximately $9,040,000. Finally, Disciplined Growth Investors Inc. MN lifted its position in InterDigital by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after buying an additional 39,891 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ:IDCC opened at $204.17 on Thursday. The business has a 50 day moving average of $194.65 and a 200 day moving average of $172.89. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $218.76. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.18%. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s payout ratio is presently 19.93%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the business’s stock in a transaction that occurred 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 owns 30,537 shares in the company, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the sale, the chief executive officer now owns 158,652 shares of the company’s stock, valued at $30,004,266.24. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,134 shares of company stock worth $4,678,770. 2.30% of the stock is currently owned by insiders.

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.