Gold Investment Management Ltd. trimmed its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,202 shares of the utilities provider's stock after selling 16,947 shares during the period. Gold Investment Management Ltd.'s holdings in BCE were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of BCE by 217.6% in the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after buying an additional 790 shares during the period. Blue Trust Inc. boosted its holdings in BCE by 1,147.3% in the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after acquiring an additional 1,285 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in BCE by 67.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 799 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in BCE in the fourth quarter valued at approximately $49,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of BCE during the third quarter valued at approximately $51,000. 41.46% of the stock is currently owned by institutional investors and hedge funds.
BCE Stock Performance
Shares of BCE traded down $0.34 during midday trading on Thursday, hitting $23.04. 2,656,313 shares of the stock traded hands, compared to its average volume of 2,709,766. The business's 50 day moving average price is $23.62 and its two-hundred day moving average price is $27.64. The firm has a market capitalization of $21.23 billion, a PE ratio of 191.96, a price-to-earnings-growth ratio of 4.13 and a beta of 0.57. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. BCE Inc. has a 1-year low of $21.87 and a 1-year high of $36.17.
BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its earnings results on Thursday, February 6th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. BCE had a net margin of 0.99% and a return on equity of 17.89%. Equities research analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.
BCE Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.6965 dividend. This represents a $2.79 annualized dividend and a yield of 12.09%. The ex-dividend date of this dividend is Friday, March 14th. BCE's dividend payout ratio is currently 2,291.67%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of BCE from a "neutral" rating to an "underweight" rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $39.00 target price on shares of BCE in a research report on Tuesday, February 25th. National Bankshares reissued a "sector perform" rating on shares of BCE in a report on Tuesday, March 11th. Bank of America lowered BCE from a "neutral" rating to an "underperform" rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley assumed coverage on BCE in a research report on Monday, December 16th. They issued an "underweight" rating on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $40.00.
Check Out Our Latest Research Report on BCE
BCE Profile
(
Free Report)
BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.
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