Wells Fargo & Company MN Acquires 5,313 Shares of IDT Co. (NYSE:IDT)

Wells Fargo & Company MN increased its holdings in shares of IDT Co. (NYSE:IDT - Free Report) by 66.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,271 shares of the utilities provider's stock after purchasing an additional 5,313 shares during the period. Wells Fargo & Company MN owned approximately 0.05% of IDT worth $631,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in IDT by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 6,097 shares of the utilities provider's stock valued at $290,000 after acquiring an additional 477 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in IDT by 35.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider's stock worth $116,000 after purchasing an additional 632 shares in the last quarter. American Century Companies Inc. lifted its stake in IDT by 1.8% during the fourth quarter. American Century Companies Inc. now owns 46,594 shares of the utilities provider's stock worth $2,214,000 after purchasing an additional 812 shares during the period. New York State Common Retirement Fund boosted its holdings in IDT by 26.0% during the fourth quarter. New York State Common Retirement Fund now owns 5,329 shares of the utilities provider's stock valued at $253,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of IDT by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 36,564 shares of the utilities provider's stock valued at $1,738,000 after purchasing an additional 2,251 shares during the period. Institutional investors own 59.34% of the company's stock.

IDT Trading Down 0.6 %

Shares of IDT stock traded down $0.32 during mid-day trading on Monday, reaching $52.12. 112,482 shares of the stock were exchanged, compared to its average volume of 94,966. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 17.85 and a beta of 0.58. IDT Co. has a fifty-two week low of $33.84 and a fifty-two week high of $58.77. The firm has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $48.88.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. The firm had revenue of $303.35 million during 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. Stockholders of record on Monday, March 17th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. This is a positive change from IDT's previous quarterly dividend of $0.05. The ex-dividend date was Monday, March 17th. IDT's dividend payout ratio is presently 7.62%.

Analyst Upgrades and Downgrades

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

Insider Activity at IDT

In other news, CTO David Wartell sold 10,735 shares of the business's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.32% of the stock is currently owned by company insiders.

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.