Perennial Advisors LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,389 shares of the network equipment provider’s stock after purchasing an additional 3,066 shares during the period. Perennial Advisors LLC’s holdings in Cisco Systems were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CGOV Asset Management raised its position in shares of Cisco Systems by 7.3% in the 1st quarter. CGOV Asset Management now owns 544,815 shares of the network equipment provider’s stock worth $24,532,000 after acquiring an additional 37,266 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Cisco Systems by 2.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 134,015 shares of the network equipment provider’s stock worth $4,235,000 after purchasing an additional 3,255 shares during the period. Gilman Hill Asset Management LLC increased its holdings in shares of Cisco Systems by 15.3% in the first quarter. Gilman Hill Asset Management LLC now owns 30,762 shares of the network equipment provider’s stock worth $1,040,000 after purchasing an additional 4,077 shares during the period. Pinnacle Advisory Group Inc. increased its holdings in shares of Cisco Systems by 47.8% in the first quarter. Pinnacle Advisory Group Inc. now owns 13,956 shares of the network equipment provider’s stock worth $472,000 after purchasing an additional 4,516 shares during the period. Finally, Guinness Asset Management Ltd increased its holdings in shares of Cisco Systems by 3.2% in the first quarter. Guinness Asset Management Ltd now owns 378,371 shares of the network equipment provider’s stock worth $12,788,000 after purchasing an additional 11,740 shares during the period. Institutional investors own 75.22% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) traded down $0.06 during trading on Friday, hitting $33.99. 19,319,300 shares of the company traded hands, compared to its average volume of 19,969,590. The stock has a market cap of $168,608.17, a price-to-earnings ratio of 15.69, a PEG ratio of 2.98 and a beta of 1.15. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.75.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. research analysts forecast that Cisco Systems, Inc. will post 2.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
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Several research analysts have recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price target on shares of Cisco Systems in a report on Friday. Cowen and Company restated a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a report on Tuesday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $33.00 target price on shares of Cisco Systems in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.26.
In related news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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