JPMorgan Chase & Co. Buys 56,738 Shares of IDT Co. (NYSE:IDT)

JPMorgan Chase & Co. grew its stake in IDT Co. (NYSE:IDT - Free Report) by 101.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,614 shares of the utilities provider's stock after buying an additional 56,738 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of IDT worth $5,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 valued at $116,000 after acquiring an additional 632 shares during the period. Quantbot Technologies LP acquired a new stake in IDT in the fourth quarter worth about $129,000. Hennion & Walsh Asset Management Inc. acquired a new stake in IDT in the fourth quarter worth about $200,000. Raymond James Financial Inc. acquired a new stake in IDT in the fourth quarter worth about $201,000. Finally, Bailard Inc. acquired a new position in shares of IDT during the 4th quarter worth about $220,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded IDT from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

Insider Activity

In related news, CTO David Wartell sold 10,735 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 25.32% of the company's stock.

IDT Trading Up 1.8 %

NYSE IDT traded up $0.88 during trading on Wednesday, reaching $49.29. The company's stock had a trading volume of 4,366 shares, compared to its average volume of 93,345. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 16.88 and a beta of 0.58. IDT Co. has a 12 month low of $33.84 and a 12 month high of $58.77. The firm has a 50 day moving average price of $49.26 and a 200 day moving average price of $48.59.

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

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were paid a $0.06 dividend. This is a positive change from IDT's previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 17th. IDT's dividend payout ratio is currently 7.62%.

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.