Verity & Verity LLC Has $3.88 Million Stock Position in BCE Inc. (NYSE:BCE)

Verity & Verity LLC lessened its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 60.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,372 shares of the utilities provider’s stock after selling 258,177 shares during the period. Verity & Verity LLC’s holdings in BCE were worth $3,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BCE. AE Wealth Management LLC lifted its position in shares of BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock worth $466,000 after buying an additional 367 shares during the last quarter. Caldwell Sutter Capital Inc. raised its stake in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after acquiring an additional 445 shares in the last quarter. First Affirmative Financial Network lifted its holdings in BCE by 6.1% in the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 472 shares during the last quarter. Prospera Financial Services Inc boosted its position in BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 478 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of BCE by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 520 shares during the period. 41.46% of the stock is currently owned by institutional investors.

BCE Trading Up 1.5 %

Shares of BCE opened at $23.16 on Friday. The stock’s 50-day moving average price is $25.14 and its 200 day moving average price is $30.70. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 330.79, a P/E/G ratio of 3.76 and a beta of 0.56. BCE Inc. has a 12-month low of $21.87 and a 12-month high of $41.77.

BCE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were given a dividend of $0.737 per share. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. This represents a $2.95 dividend on an annualized basis and a dividend yield of 12.73%. BCE’s payout ratio is currently 4,028.57%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BCE. National Bank Financial downgraded shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Canaccord Genuity Group cut shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Barclays dropped their price objective on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Morgan Stanley assumed coverage on BCE in a research note on Monday, December 16th. They set an “underweight” rating for the company. Finally, Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.