BCE Inc. (NYSE:BCE) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 37.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,881 shares of the utilities provider’s stock after selling 5,374 shares during the period. Avantax Advisory Services Inc.’s holdings in BCE were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of BCE. Allworth Financial LP lifted its holdings in shares of BCE by 217.6% during the 4th quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 790 shares during the period. Blue Trust Inc. increased its stake in shares of BCE by 1,147.3% in the fourth quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,285 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in BCE during the third quarter valued at approximately $51,000. Legacy Investment Solutions LLC acquired a new stake in shares of BCE during the third quarter worth $65,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 799 shares during the period. Hedge funds and other institutional investors own 41.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on BCE shares. Morgan Stanley began coverage on BCE in a research report on Monday, December 16th. They issued an “underweight” rating on the stock. JPMorgan Chase & Co. downgraded shares of BCE from a “neutral” rating to an “underweight” rating in a research note on Friday, February 7th. Bank of America cut shares of BCE from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 14th. Barclays restated an “underweight” rating on shares of BCE in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $39.00 price objective on shares of BCE in a report on Tuesday, February 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has given 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.

BCE Trading Up 2.2 %

Shares of BCE stock opened at $23.15 on Friday. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 192.94, a P/E/G 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 52-week low of $21.87 and a 52-week high of $36.17. The firm has a fifty day moving average of $23.60 and a 200-day moving average of $27.16.

BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.56 earnings per share 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%. On average, equities research analysts forecast that BCE Inc. will post 1.94 earnings per share for the current fiscal year.

BCE Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.6965 per share. This represents a $2.79 dividend on an annualized basis and a yield of 12.03%. The ex-dividend date is Friday, March 14th. BCE’s dividend payout ratio is currently 2,291.67%.

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.