Cibc World Markets buys $744,471,270 stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Cibc World Markets scooped up 257,656 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 21, 2016. The investment management firm now holds a total of 15,513,050 shares of BCE (USA) which is valued at $744,471,270.BCE (USA) makes up approximately 3.21% of Cibc World Markets’s portfolio.

Other Hedge Funds, Including , Commonwealth Financial Services added BCE to its portfolio by purchasing 387 company shares during the most recent quarter which is valued at $18,572. BCE (USA) makes up approx 0.02% of Commonwealth Financial Services’s portfolio.Davenport Co reduced its stake in BCE by selling 2,048 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 56,058 shares of BCE which is valued at $2,706,480. BCE (USA) makes up approx 0.04% of Davenport Co’s portfolio. Howland Capital Management added BCE to its portfolio by purchasing 4,310 company shares during the most recent quarter which is valued at $202,355. BCE (USA) makes up approx 0.02% of Howland Capital Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in BCE by selling 118 shares or 83.69% in the most recent quarter. The Hedge Fund company now holds 23 shares of BCE which is valued at $1,080.

BCE (USA) opened for trading at $47.51 and hit $47.65 on the upside on Thursday, eventually ending the session at $47.54, with a gain of 0.19% or 0.09 points. The heightened volatility saw the trading volume jump to 5,08,076 shares. Company has a market cap of $41,294 M.

On the company’s financial health, BCE (USA) reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $5270.00 million for the quarter, compared to analysts expectations of $5322.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

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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