Point72 Asset Management L.P. Sells 6,670 Shares of IDT Co. (NYSE:IDT)

Point72 Asset Management L.P. reduced its stake in IDT Co. (NYSE:IDT - Free Report) by 49.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,726 shares of the utilities provider's stock after selling 6,670 shares during the quarter. Point72 Asset Management L.P.'s holdings in IDT were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of IDT by 35.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after acquiring an additional 632 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of IDT during the fourth quarter worth approximately $129,000. New Age Alpha Advisors LLC purchased a new position in shares of IDT during the fourth quarter worth approximately $134,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of IDT during the fourth quarter worth approximately $180,000. Finally, Raymond James Financial Inc. purchased a new position in shares of IDT during the fourth quarter worth approximately $201,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Trading Up 0.5%

Shares of IDT stock traded up $0.34 during trading hours on Thursday, hitting $62.23. 11,087 shares of the company's stock were exchanged, compared to its average volume of 99,963. The company has a market capitalization of $1.57 billion, a PE ratio of 21.25 and a beta of 0.69. IDT Co. has a 12-month low of $33.84 and a 12-month high of $63.67. The business's 50 day simple moving average is $52.85 and its 200-day simple moving average is $50.23.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The firm had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were issued a $0.06 dividend. This is a boost from IDT's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. IDT's dividend payout ratio (DPR) is currently 7.62%.

Insider Transactions at IDT

In other news, CTO David Wartell sold 10,735 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 25.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of IDT from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.