BCE Inc. (NYSE:BCE) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its position in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 64.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,960 shares of the utilities provider's stock after selling 30,624 shares during the quarter. Virtu Financial LLC's holdings in BCE were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Unigestion Holding SA bought a new position in BCE during the 3rd quarter valued at about $3,094,000. TD Private Client Wealth LLC grew its stake in shares of BCE by 2.4% during the third quarter. TD Private Client Wealth LLC now owns 92,027 shares of the utilities provider's stock valued at $3,203,000 after buying an additional 2,146 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of BCE by 16.9% in the third quarter. Geode Capital Management LLC now owns 723,067 shares of the utilities provider's stock worth $28,673,000 after buying an additional 104,572 shares during the period. Executive Wealth Management LLC bought a new stake in shares of BCE during the 3rd quarter worth approximately $398,000. Finally, Duff & Phelps Investment Management Co. boosted its holdings in BCE by 14.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,216,375 shares of the utilities provider's stock valued at $42,330,000 after acquiring an additional 150,510 shares during the period. Institutional investors own 41.46% of the company's stock.

BCE Stock Performance

BCE stock traded down $0.29 during mid-day trading on Friday, reaching $25.52. 5,665,335 shares of the company traded hands, compared to its average volume of 2,479,411. The firm's fifty day moving average is $29.51 and its two-hundred day moving average is $32.40. The company has a market capitalization of $23.28 billion, a price-to-earnings ratio of 364.57, a price-to-earnings-growth ratio of 4.04 and a beta of 0.54. BCE Inc. has a fifty-two week low of $25.24 and a fifty-two week high of $41.77. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.737 per share. This is a boost from BCE's previous quarterly dividend of $0.73. This represents a $2.95 annualized dividend and a yield of 11.55%. The ex-dividend date of this dividend is Monday, December 16th. BCE's dividend payout ratio (DPR) is currently 4,214.29%.

Analysts Set New Price Targets

BCE has been the subject of a number of recent analyst reports. Edward Jones lowered shares of BCE from a "buy" rating to a "hold" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group cut shares of BCE from a "buy" rating to a "hold" rating in a research report on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of BCE in a research report on Tuesday, November 5th. Barclays lowered their price target on BCE from $34.00 to $30.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Finally, National Bank Financial downgraded BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BCE has a consensus rating of "Hold" and an average target price of $45.00.

About BCE

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.