IDT Co. (NYSE:IDT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in IDT Co. (NYSE:IDT - Free Report) by 13.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,275 shares of the utilities provider's stock after selling 78,040 shares during the period. Wealth Enhancement Advisory Services LLC owned about 2.02% of IDT worth $24,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IDT. Park Square Financial Group LLC purchased a new position in IDT in the 4th quarter valued at approximately $44,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in IDT by 35.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 632 shares in the last quarter. Quantbot Technologies LP purchased a new position in IDT in the 4th quarter valued at approximately $129,000. New Age Alpha Advisors LLC purchased a new position in IDT in the 4th quarter valued at approximately $134,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in IDT in the 4th quarter valued at approximately $180,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 25.32% of the stock is owned by insiders.

IDT Price Performance

NYSE:IDT traded down $1.49 during trading hours on Tuesday, reaching $58.95. 238,524 shares of the company traded hands, compared to its average volume of 101,829. The firm's 50-day moving average is $53.54 and its 200-day moving average is $50.51. The stock has a market cap of $1.49 billion, a P/E ratio of 20.19 and a beta of 0.69. IDT Co. has a 1-year low of $33.84 and a 1-year high of $62.97.

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

IDT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 17th. This is a boost from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is 7.62%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded IDT from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

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.