Pictet Asset Management SA Reduces Holdings in BCE Inc. (NYSE:BCE)

Pictet Asset Management SA reduced its position in shares of BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,178 shares of the utilities provider’s stock after selling 1,047 shares during the period. Pictet Asset Management SA’s holdings in BCE were worth $2,020,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. boosted its stake in shares of BCE by 1.0% during the 1st quarter. Moors & Cabot Inc. now owns 19,576 shares of the utilities provider’s stock worth $1,086,000 after purchasing an additional 200 shares during the last quarter. Keybank National Association OH boosted its stake in shares of BCE by 1.4% during the 2nd quarter. Keybank National Association OH now owns 15,509 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 207 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of BCE by 12.1% during the 2nd quarter. Global Retirement Partners LLC now owns 1,993 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 215 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of BCE by 0.8% during the 1st quarter. D.A. Davidson & CO. now owns 26,894 shares of the utilities provider’s stock worth $1,492,000 after purchasing an additional 221 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of BCE by 4.2% in the first quarter. Parkside Financial Bank & Trust now owns 5,601 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 225 shares during the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays decreased their target price on shares of BCE from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, October 10th. BMO Capital Markets decreased their target price on shares of BCE from C$75.00 to C$68.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Royal Bank of Canada raised their target price on shares of BCE from C$63.00 to C$64.00 in a research report on Friday, November 4th. TD Securities raised their target price on shares of BCE from C$62.00 to C$64.00 in a research report on Friday, November 4th. Finally, StockNews.com started coverage on shares of BCE in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.18.

BCE Trading Down 0.4 %

Shares of BCE stock opened at $47.13 on Tuesday. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 3.93 and a beta of 0.55. The company has a quick ratio of 0.54, a current ratio of 0.60 and a debt-to-equity ratio of 1.40. BCE Inc. has a fifty-two week low of $39.88 and a fifty-two week high of $59.34. The firm’s 50 day moving average price is $44.74 and its two-hundred day moving average price is $48.48.

BCE Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 5.73%. BCE’s dividend payout ratio is currently 114.81%.

BCE Company Profile

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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communication products and services, as well as consumer electronics products.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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