IDT Co. (NYSE:IDT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in IDT Co. (NYSE:IDT) by 10.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,590 shares of the utilities provider’s stock after selling 1,419 shares during the period. Hsbc Holdings PLC’s holdings in IDT were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IDT. Orchard Capital Management LLC grew its stake in IDT by 5.4% in the fourth quarter. Orchard Capital Management LLC now owns 282,466 shares of the utilities provider’s stock worth $9,629,000 after purchasing an additional 14,466 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in IDT in the first quarter worth about $23,276,000. Allspring Global Investments Holdings LLC grew its stake in IDT by 18.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,267 shares of the utilities provider’s stock worth $1,031,000 after purchasing an additional 4,294 shares in the last quarter. Principal Financial Group Inc. acquired a new position in IDT in the first quarter worth about $254,000. Finally, BNP Paribas Financial Markets grew its stake in IDT by 2.3% in the first quarter. BNP Paribas Financial Markets now owns 13,805 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 309 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDT

In other news, Director Eric F. Cosentino sold 800 shares of IDT stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total transaction of $29,792.00. Following the sale, the director now owns 551 shares of the company’s stock, valued at $20,519.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Eric F. Cosentino sold 800 shares of IDT stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $37.24, for a total transaction of $29,792.00. Following the sale, the director now owns 551 shares of the company’s stock, valued at $20,519.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $37.25, for a total value of $281,982.50. Following the sale, the executive vice president now directly owns 12,996 shares in the company, valued at approximately $484,101. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded IDT from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 19th.

IDT Stock Down 1.2 %

Shares of IDT stock opened at $37.73 on Wednesday. The business has a 50 day moving average of $37.43 and a two-hundred day moving average of $37.45. IDT Co. has a 52 week low of $21.64 and a 52 week high of $41.58. The company has a market cap of $956.04 million, a P/E ratio of 27.05 and a beta of 0.79.

IDT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. IDT’s payout ratio is currently 14.29%.

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.