BCE Inc. (BCE) Shares Sold by Smithfield Trust Co.
Smithfield Trust Co. cut its position in BCE Inc. (NYSE:BCE) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,292 shares of the company’s stock after selling 455 shares during the period. Smithfield Trust Co.’s holdings in BCE were worth $819,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. AMP Capital Investors Ltd boosted its position in BCE by 2.8% in the first quarter. AMP Capital Investors Ltd now owns 88,309 shares of the company’s stock worth $4,058,000 after buying an additional 2,378 shares in the last quarter. Thomaspartners Inc. boosted its stake in shares of BCE by 3.9% in the first quarter. Thomaspartners Inc. now owns 3,960,227 shares of the company’s stock worth $180,349,000 after buying an additional 148,338 shares during the period. Wellington Management Group LLP boosted its stake in shares of BCE by 0.8% in the first quarter. Wellington Management Group LLP now owns 12,303,401 shares of the company’s stock worth $562,913,000 after buying an additional 93,906 shares during the period. Prudential PLC boosted its stake in shares of BCE by 65.9% in the first quarter. Prudential PLC now owns 22,400 shares of the company’s stock worth $1,020,000 after buying an additional 8,900 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of BCE by 36.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,410,636 shares of the company’s stock worth $109,780,000 after buying an additional 640,070 shares during the period. 44.51% of the stock is owned by institutional investors and hedge funds.
Shares of BCE Inc. (NYSE:BCE) traded up 0.89% on Tuesday, reaching $46.24. 311,429 shares of the company’s stock traded hands. BCE Inc. has a 12-month low of $35.96 and a 12-month high of $49.03. The stock has a 50-day moving average of $46.21 and a 200 day moving average of $46.76. The firm has a market cap of $40.21 billion, a P/E ratio of 19.32 and a beta of 0.40.
BCE (NYSE:BCE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. The firm had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $4.10 billion. BCE had a net margin of 13.02% and a return on equity of 22.89%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 earnings per share. On average, equities research analysts expect that BCE Inc. will post $2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Thursday, September 15th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, September 13th. BCE’s dividend payout ratio is presently 88.14%.
BCE has been the subject of a number of research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $65.00 price objective on shares of BCE in a research note on Friday, August 5th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, October 5th. Desjardins reaffirmed a “hold” rating and issued a $64.00 price objective on shares of BCE in a research note on Wednesday, August 10th. Citigroup Inc. upped their price objective on shares of BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of BCE in a research note on Sunday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.30.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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