IDT Co. (NYSE:IDT) CTO David Wartell Sells 10,735 Shares

IDT Co. (NYSE:IDT) CTO David Wartell sold 10,735 shares of the business’s 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 filing with the Securities & Exchange Commission, which is available at this link.

David Wartell also recently made the following trade(s):

• On Monday, December 23rd, David Wartell sold 17,116 shares of IDT stock. The stock was sold at an average price of $47.11, for a total transaction of $806,334.76.

IDT Price Performance

NYSE:IDT traded up $0.01 during trading hours on Thursday, hitting $50.46. The company had a trading volume of 23,380 shares, compared to its average volume of 86,008. The stock has a 50-day moving average price of $48.10 and a 200 day moving average price of $46.55. The company has a market capitalization of $1.27 billion, a PE ratio of 17.27 and a beta of 0.84. IDT Co. has a 52 week low of $33.84 and a 52 week high of $58.77.

IDT (NYSE:IDT) last announced its quarterly 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 company had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 17th. This is a positive change from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.48%. IDT’s payout ratio is currently 7.62%.

Hedge Funds Weigh In On IDT

Institutional investors have recently added to or reduced their stakes in the company. Emmett Investment Management LP purchased a new stake in shares of IDT in the 4th quarter worth about $5,257,000. Deutsche Bank AG lifted its holdings in shares of IDT by 32.4% during the fourth quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock valued at $15,711,000 after purchasing an additional 80,817 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of IDT by 101.5% in the 4th quarter. JPMorgan Chase & Co. now owns 112,614 shares of the utilities provider’s stock worth $5,351,000 after purchasing an additional 56,738 shares in the last quarter. Cerity Partners LLC grew its stake in shares of IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after buying an additional 52,532 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in IDT by 76.3% during the 4th quarter. Bank of New York Mellon Corp now owns 111,536 shares of the utilities provider’s stock valued at $5,300,000 after buying an additional 48,288 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Tuesday.

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.