IDT Co. (NYSE:IDT) Stock Position Lowered by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of IDT Co. (NYSE:IDT - Free Report) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 931,260 shares of the utilities provider's stock after selling 208,952 shares during the period. Vanguard Group Inc. owned about 3.70% of IDT worth $20,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDT. BlackRock Inc. lifted its holdings in IDT by 3.7% in the 2nd quarter. BlackRock Inc. now owns 1,436,165 shares of the utilities provider's stock valued at $37,125,000 after purchasing an additional 50,879 shares in the last quarter. FMR LLC raised its holdings in shares of IDT by 27.9% during the 1st quarter. FMR LLC now owns 726,232 shares of the utilities provider's stock worth $24,750,000 after acquiring an additional 158,521 shares during the period. Adirondack Retirement Specialists Inc. raised its holdings in shares of IDT by 9.2% during the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 614,927 shares of the utilities provider's stock worth $13,559,000 after acquiring an additional 51,694 shares during the period. Bandera Partners LLC raised its holdings in shares of IDT by 98.7% during the 1st quarter. Bandera Partners LLC now owns 470,000 shares of the utilities provider's stock worth $16,022,000 after acquiring an additional 233,441 shares during the period. Finally, State Street Corp raised its holdings in shares of IDT by 7.4% during the 2nd quarter. State Street Corp now owns 426,781 shares of the utilities provider's stock worth $11,032,000 after acquiring an additional 29,565 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Insider Buying and Selling

In other IDT news, CAO Mitch Silberman sold 2,115 shares of IDT stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total value of $80,391.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Mitch Silberman sold 2,115 shares of the business's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.01, for a total transaction of $80,391.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Bill Pereira sold 15,647 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $37.95, for a total value of $593,803.65. Following the transaction, the chief operating officer now directly owns 49,999 shares of the company's stock, valued at $1,897,462.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,192 shares of company stock valued at $690,075. 15.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded IDT from a "hold" rating to a "buy" rating in a report on Thursday, March 7th.

IDT Price Performance

Shares of NYSE:IDT traded down $0.28 during midday trading on Friday, reaching $36.94. 51,502 shares of the company's stock were exchanged, compared to its average volume of 73,973. The firm's 50 day simple moving average is $36.89 and its two-hundred day simple moving average is $32.79. The stock has a market cap of $937.83 million, a price-to-earnings ratio of 25.48 and a beta of 0.97. IDT Co. has a fifty-two week low of $21.64 and a fifty-two week high of $38.68.

IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter. The firm had revenue of $296.10 million during the quarter. IDT had a return on equity of 20.18% and a net margin of 3.08%.

IDT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, March 18th. IDT's payout ratio is 13.79%.

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.