Charles Schwab Investment Management Inc. Buys 15,600 Shares of IDT Corporation $IDT

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in IDT Corporation by 9.6% in Q1, owning approximately $9.1 million worth of shares.
• IDT recently declared a quarterly dividend of $0.06 per share, with a yield of 0.4%, reflecting a low dividend payout ratio of 6.33%.
• Wall Street analysts downgraded IDT from a "strong-buy" rating to a "buy" rating, indicating a shift in market sentiment.

Charles Schwab Investment Management Inc. raised its stake in IDT Corporation (NYSE:IDT - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,265 shares of the utilities provider's stock after buying an additional 15,600 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.71% of IDT worth $9,147,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of IDT by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock worth $417,000 after purchasing an additional 303 shares during the last quarter. Rhumbline Advisers increased its stake in shares of IDT by 1.2% during the 1st quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock worth $1,346,000 after purchasing an additional 320 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of IDT by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock worth $442,000 after purchasing an additional 643 shares during the last quarter. Aquatic Capital Management LLC increased its stake in shares of IDT by 12.3% during the 4th quarter. Aquatic Capital Management LLC now owns 6,737 shares of the utilities provider's stock worth $320,000 after purchasing an additional 737 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of IDT during the 4th quarter worth $44,000. Institutional investors and hedge funds own 59.34% of the company's stock.

IDT Price Performance

Shares of NYSE IDT traded down $0.74 during trading hours on Friday, hitting $64.03. 176,523 shares of the stock were exchanged, compared to its average volume of 132,612. The company's 50 day moving average is $62.10 and its 200 day moving average is $56.68. The firm has a market capitalization of $1.62 billion, a P/E ratio of 16.89 and a beta of 0.79. IDT Corporation has a one year low of $36.12 and a one year high of $71.12.

IDT (NYSE:IDT - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $301.98 million during the quarter. IDT had a net margin of 7.85% and a return on equity of 26.38%.

IDT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's dividend payout ratio is currently 6.33%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th.

IDT 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.