Swiss National Bank Purchases 8,700 Shares of IDT Corporation $IDT

Key Points

• The Swiss National Bank increased its stake in IDT Corporation by 26.7%, owning 41,300 shares valued at approximately $2.12 million after acquiring an additional 8,700 shares in the first quarter.
• IDT's stock recently opened at $63.27, with a 12-month range between $36.12 and $71.12, and it also reported earnings of $0.87 EPS for the last quarter, with revenue of nearly $302 million.
• IDT declared a quarterly dividend of $0.06, resulting in an annualized dividend of $0.24, and its current dividend yield is 0.4% with a payout ratio of 6.33%.

Swiss National Bank boosted its position in IDT Corporation (NYSE:IDT - Free Report) by 26.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,300 shares of the utilities provider's stock after purchasing an additional 8,700 shares during the quarter. Swiss National Bank owned about 0.16% of IDT worth $2,119,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IDT. Wells Fargo & Company MN boosted its stake in IDT by 66.8% in the 4th quarter. Wells Fargo & Company MN now owns 13,271 shares of the utilities provider's stock valued at $631,000 after purchasing an additional 5,313 shares during the period. Invesco Ltd. boosted its stake in IDT by 5.9% in the 4th quarter. Invesco Ltd. now owns 28,627 shares of the utilities provider's stock valued at $1,360,000 after purchasing an additional 1,594 shares during the period. Raymond James Financial Inc. bought a new stake in IDT in the 4th quarter valued at $201,000. Barclays PLC boosted its stake in IDT by 78.4% in the 4th quarter. Barclays PLC now owns 48,283 shares of the utilities provider's stock valued at $2,294,000 after purchasing an additional 21,217 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in IDT by 7.4% in the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock valued at $442,000 after purchasing an additional 643 shares during the period. 59.34% of the stock is currently owned by institutional investors.

IDT Stock Up 1.6%

IDT stock opened at $63.2710 on Friday. IDT Corporation has a 12 month low of $36.12 and a 12 month high of $71.12. The firm has a market cap of $1.60 billion, a P/E ratio of 16.69 and a beta of 0.74. The company's 50-day moving average price is $62.35 and its two-hundred day moving average price is $56.09.

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

IDT Announces Dividend

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

Wall Street Analyst Weigh In

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

About IDT

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.

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