Integrated Wealth Concepts LLC Sells 22,216 Shares of BCE Inc. (NYSE:BCE)

Integrated Wealth Concepts LLC lowered its holdings in shares of BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 60.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,692 shares of the utilities provider's stock after selling 22,216 shares during the period. Integrated Wealth Concepts LLC's holdings in BCE were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BCE. Hexagon Capital Partners LLC boosted its position in shares of BCE by 121.2% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,232 shares of the utilities provider's stock worth $43,000 after purchasing an additional 675 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in BCE in the third quarter worth approximately $51,000. Brown Lisle Cummings Inc. grew its stake in BCE by 60.0% in the second quarter. Brown Lisle Cummings Inc. now owns 1,600 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 600 shares during the period. Bruce G. Allen Investments LLC grew its stake in BCE by 321.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,663 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 1,268 shares during the period. Finally, Fairscale Capital LLC bought a new stake in shares of BCE during the second quarter valued at approximately $76,000. 41.46% of the stock is currently owned by institutional investors.

BCE Stock Down 1.9 %

Shares of BCE traded down $0.49 during trading hours on Wednesday, reaching $25.97. 3,907,927 shares of the stock traded hands, compared to its average volume of 2,455,435. BCE Inc. has a 52 week low of $25.95 and a 52 week high of $41.77. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 2.26. The stock has a fifty day simple moving average of $30.00 and a 200 day simple moving average of $32.55. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 373.57, a PEG ratio of 4.17 and a beta of 0.54.

BCE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a dividend yield of 11.35%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from BCE's previous quarterly dividend of $0.73. BCE's payout ratio is presently 4,214.29%.

Analyst Upgrades and Downgrades

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