Vanguard Group Inc. Buys 22,819 Shares of IDT Corporation $IDT

Key Points

• Vanguard Group Inc. has increased its holdings in IDT Corporation by 1.8%, now owning approximately 1,288,634 shares valued at $66.12 million.
• Several other institutional investors have also raised their stakes in IDT, with New Age Alpha Advisors LLC boosting its holdings by 59.3% during the first quarter.
• IDT reported earnings of $0.87 per share with revenue of $301.98 million for the last quarter, alongside announcing a quarterly dividend of $0.06 per share.

Vanguard Group Inc. boosted its stake in IDT Corporation (NYSE:IDT - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,288,634 shares of the utilities provider's stock after purchasing an additional 22,819 shares during the quarter. Vanguard Group Inc. owned about 5.11% of IDT worth $66,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in shares of IDT by 59.3% in the 1st quarter. New Age Alpha Advisors LLC now owns 4,486 shares of the utilities provider's stock worth $230,000 after purchasing an additional 1,670 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of IDT by 25.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,361 shares of the utilities provider's stock worth $326,000 after purchasing an additional 1,273 shares during the period. Pacific Capital Partners Ltd purchased a new position in IDT during the 1st quarter valued at $1,580,000. Mackenzie Financial Corp boosted its position in IDT by 44.3% during the 1st quarter. Mackenzie Financial Corp now owns 20,528 shares of the utilities provider's stock valued at $1,053,000 after acquiring an additional 6,306 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in IDT in the first quarter worth $233,000. Institutional investors own 59.34% of the company's stock.

Wall Street Analyst Weigh In

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

IDT Trading Down 0.8%

IDT stock traded down $0.49 during trading on Tuesday, reaching $62.69. The company had a trading volume of 117,713 shares, compared to its average volume of 135,696. The firm's 50-day simple moving average is $62.18 and its 200 day simple moving average is $56.29. IDT Corporation has a 52 week low of $36.12 and a 52 week high of $71.12. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 16.54 and a beta of 0.74.

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 for the quarter. The firm had revenue of $301.98 million for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%.

IDT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's dividend payout ratio (DPR) is presently 6.33%.

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.