Bruderman Asset Management buys $11,798,846 stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Bruderman Asset Management scooped up 3,923 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 247,148 shares of BCE (USA) which is valued at $11,798,846.BCE (USA) makes up approximately 3.64% of Bruderman Asset Management’s portfolio.

Other Hedge Funds, Including , Greystone Managed Investments reduced its stake in BCE by selling 15,365 shares or 4.29% in the most recent quarter. The Hedge Fund company now holds 343,182 shares of BCE which is valued at $16,383,509. BCE (USA) makes up approx 0.64% of Greystone Managed Investments’s portfolio.Meritage Portfolio Management reduced its stake in BCE by selling 6,295 shares or 4.19% in the most recent quarter. The Hedge Fund company now holds 143,910 shares of BCE which is valued at $6,906,241. BCE (USA) makes up approx 0.75% of Meritage Portfolio Management’s portfolio.Murphy Capital Management Inc reduced its stake in BCE by selling 1,050 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 14,950 shares of BCE which is valued at $714,461. BCE (USA) makes up approx 0.11% of Murphy Capital Management Inc’s portfolio.

BCE (USA) closed down -0.08 points or -0.17% at $48.36 with 6,31,910 shares getting traded on Wednesday. Post opening the session at $48.49, the shares hit an intraday low of $47.86 and an intraday high of $48.51 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, BCE (USA) reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.91. The company had revenue of $5340.00 million for the quarter, compared to analysts expectations of $5378.48 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Investors should note that on Aug 4, 2016, BCE (USA) announced a cash dividend of $0.6825. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 15, 2016.

Many Wall Street Analysts have commented on BCE (USA). BCE (USA) was Downgraded by Citigroup to ” Neutral” on May 26, 2016.

BCE Inc. is a communications company. The Company provides residential business and wholesale customers with a range of solutions to all their communications needs including wireless high-speed Internet Internet protocol television (IPTV) and satellite TV business Internet protocol (IP) broadband and information and communications technology (ICT) services. The Company’s segments include Bell Wireless Bell Wireline and Bell Media. The Company’s Bell Wireless segment provides wireless services that are available to virtually all of the Canadian population. The Bell Wireline segment includes voice and data network; high-speed fiber deployment and bell direct to home (DTH) satellite television service. The Company’s Bell Media segment offers specialty and pay television radio digital media and out-of-home advertising. The Company through Bell media operates approximately 110 radio stations in over 50 markets across Canada.

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