Hancock Whitney Corp Increases Position in InterDigital, Inc. (NASDAQ:IDCC)

Hancock Whitney Corp boosted its position in InterDigital, Inc. (NASDAQ:IDCC) by 1.3% in the 3rd quarter, Holdings Channel reports. The fund owned 16,496 shares of the Wireless communications provider’s stock after purchasing an additional 209 shares during the period. Hancock Whitney Corp’s holdings in InterDigital were worth $2,336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDCC. Transcendent Capital Group LLC purchased a new stake in InterDigital in the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new position in InterDigital during the third quarter worth approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital in the 2nd quarter valued at $29,000. GAMMA Investing LLC grew its stake in shares of InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling

In other news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,340 shares of company stock valued at $472,253. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

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

InterDigital Stock Up 2.0 %

Shares of NASDAQ IDCC opened at $193.83 on Tuesday. The stock has a fifty day moving average price of $158.10 and a 200 day moving average price of $135.63. 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 $95.33 and a 12-month high of $194.90. The company has a market cap of $4.91 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.80 and a beta of 1.38.

InterDigital Increases Dividend

The business also recently announced 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. This is an increase from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 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.