Geode Capital Management LLC Has $16.08 Million Stake in IDT Co. (NYSE:IDT)

Geode Capital Management LLC raised its stake in shares of IDT Co. (NYSE:IDT) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 421,096 shares of the utilities provider’s stock after buying an additional 25,541 shares during the quarter. Geode Capital Management LLC’s holdings in IDT were worth $16,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Renaissance Technologies LLC grew its stake in IDT by 2.7% in the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock valued at $39,749,000 after acquiring an additional 29,100 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in IDT by 0.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 589,315 shares of the utilities provider’s stock valued at $22,494,000 after buying an additional 2,169 shares during the last quarter. State Street Corp lifted its stake in IDT by 0.5% in the 3rd quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock valued at $14,911,000 after acquiring an additional 2,071 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of IDT by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock worth $6,024,000 after acquiring an additional 6,183 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in IDT by 121.7% during the third quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after purchasing an additional 52,532 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut IDT from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 24th.

IDT Stock Performance

Shares of NYSE:IDT opened at $47.93 on Monday. IDT Co. has a 52-week low of $32.08 and a 52-week high of $58.77. The company has a 50-day simple moving average of $49.35 and a 200 day simple moving average of $41.95. The company has a market capitalization of $1.21 billion, a P/E ratio of 16.41 and a beta of 0.78.

IDT (NYSE:IDT) last issued its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $308.83 million during the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 24th will be given a dividend of $0.05 per share. This represents a yield of 0.42%. The ex-dividend date is Monday, December 23rd. IDT’s dividend payout ratio is 6.85%.

Insider Activity at IDT

In other news, COO Bill Pereira sold 29,175 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the completion of the sale, the chief operating officer now owns 40,000 shares of the company’s stock, valued at approximately $1,889,600. This represents a 42.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total value of $806,334.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,698 shares of company stock worth $2,492,643. Company insiders own 25.32% of the company’s stock.

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.