Wealth Enhancement Advisory Services LLC Invests $23.28 Million in IDT Co. (NYSE:IDT)

Wealth Enhancement Advisory Services LLC bought a new position in IDT Co. (NYSE:IDT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 615,609 shares of the utilities provider's stock, valued at approximately $23,276,000. Wealth Enhancement Advisory Services LLC owned about 2.42% of IDT as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IDT by 58.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,387 shares of the utilities provider's stock valued at $114,000 after buying an additional 1,250 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of IDT during the 4th quarter valued at about $115,000. Barclays PLC lifted its holdings in IDT by 13.6% in the 3rd quarter. Barclays PLC now owns 7,437 shares of the utilities provider's stock worth $164,000 after purchasing an additional 889 shares in the last quarter. Mraz Amerine & Associates Inc. purchased a new position in IDT in the 4th quarter worth approximately $236,000. Finally, Hsbc Holdings PLC lifted its holdings in IDT by 121.3% in the 3rd quarter. Hsbc Holdings PLC now owns 19,012 shares of the utilities provider's stock worth $421,000 after purchasing an additional 10,422 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Stock Up 0.9 %

NYSE IDT traded up $0.32 during trading hours on Friday, reaching $35.96. The company's stock had a trading volume of 186,004 shares, compared to its average volume of 80,007. The firm's 50-day moving average price is $37.87 and its 200-day moving average price is $36.35. IDT Co. has a 1 year low of $21.64 and a 1 year high of $41.58. The company has a market capitalization of $911.23 million, a price-to-earnings ratio of 25.69 and a beta of 0.97.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, June 10th. IDT's payout ratio is 14.29%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised IDT from a "buy" rating to a "strong-buy" rating in a report on Thursday, June 6th.

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.