615,609 Shares in IDT Co. (NYSE:IDT) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in shares of IDT Co. (NYSE:IDT) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 615,609 shares of the utilities provider’s stock, valued at approximately $23,276,000. Wealth Enhancement Advisory Services LLC owned approximately 2.42% of IDT at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in IDT. Russell Investments Group Ltd. boosted its holdings in shares of IDT by 163.3% in the 4th quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider’s stock valued at $3,235,000 after buying an additional 58,859 shares during the period. Orchard Capital Management LLC boosted its holdings in shares of IDT by 5.4% in the 4th quarter. Orchard Capital Management LLC now owns 282,466 shares of the utilities provider’s stock valued at $9,629,000 after buying an additional 14,466 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of IDT by 146.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 22,973 shares of the utilities provider’s stock valued at $783,000 after buying an additional 13,659 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in IDT by 28.6% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 53,367 shares of the utilities provider’s stock valued at $1,819,000 after purchasing an additional 11,875 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in IDT by 121.3% during the 3rd quarter. Hsbc Holdings PLC now owns 19,012 shares of the utilities provider’s stock valued at $421,000 after purchasing an additional 10,422 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 6th.

IDT Stock Performance

IDT stock opened at $35.66 on Friday. The firm has a market cap of $903.62 million, a PE ratio of 25.47 and a beta of 0.97. The firm’s 50 day moving average price is $37.88 and its two-hundred day moving average price is $36.32. IDT Co. has a twelve month low of $21.64 and a twelve month high of $41.58.

IDT Announces Dividend

The business 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. The ex-dividend date was Monday, June 10th. This represents a $0.20 annualized dividend and a yield of 0.56%. IDT’s dividend payout ratio is presently 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.