Geode Capital Management LLC Raises Stock Holdings in IDT Co. (NYSE:IDT)

Geode Capital Management LLC raised its position in IDT Co. (NYSE:IDT - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 426,442 shares of the utilities provider's stock after acquiring an additional 5,346 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of IDT worth $20,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 during the period. Quantbot Technologies LP purchased a new position in IDT during the 4th quarter valued at about $129,000. New Age Alpha Advisors LLC bought a new stake in IDT during the fourth quarter worth about $134,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of IDT during the fourth quarter valued at approximately $200,000. Finally, Raymond James Financial Inc. bought a new stake in shares of IDT in the 4th quarter worth approximately $201,000. Institutional investors own 59.34% of the company's stock.

Insider Transactions at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 25.32% 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 report on Tuesday, March 18th.

IDT Price Performance

NYSE IDT traded up $0.58 during mid-day trading on Wednesday, reaching $48.99. The stock had a trading volume of 31,457 shares, compared to its average volume of 93,455. The company has a fifty day moving average price of $49.26 and a 200 day moving average price of $48.59. IDT Co. has a 1 year low of $33.84 and a 1 year high of $58.77. The stock has a market cap of $1.24 billion, a PE ratio of 16.78 and a beta of 0.58.

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

IDT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. This is a boost 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%.

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.