Wells Fargo & Company MN Raises Stock Position in IDT Co. (NYSE:IDT)

Wells Fargo & Company MN lifted its stake in IDT Co. (NYSE:IDT) by 66.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 0.05% of IDT worth $631,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IDT. JPMorgan Chase & Co. lifted its position in IDT by 101.5% during the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider’s stock valued at $5,351,000 after acquiring an additional 56,738 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of IDT by 76.3% during the fourth quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider’s stock valued at $5,300,000 after purchasing an additional 48,288 shares during the last quarter. Norges Bank bought a new stake in shares of IDT in the 4th quarter worth approximately $2,172,000. Teacher Retirement System of Texas boosted its position in shares of IDT by 163.8% in the 4th quarter. Teacher Retirement System of Texas now owns 47,349 shares of the utilities provider’s stock worth $2,250,000 after purchasing an additional 29,399 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of IDT in the 4th quarter worth approximately $1,018,000. Institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In other news, CTO David Wartell sold 10,735 shares of IDT stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 link. Corporate insiders own 25.32% of the company’s stock.

IDT Price Performance

Shares of IDT stock opened at $52.44 on Friday. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The firm’s 50-day moving average is $49.40 and its 200 day moving average is $48.85. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 17.96 and a beta of 0.58.

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

IDT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.46%. This is an increase from IDT’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, March 17th. IDT’s dividend payout ratio (DPR) is currently 7.62%.

Analysts Set New Price Targets

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

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.