Lord Abbett & CO. LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,082,742 shares of the network equipment provider’s stock after acquiring an additional 882,680 shares during the period. Cisco Systems makes up about 0.6% of Lord Abbett & CO. LLC’s holdings, making the stock its 14th largest position. Lord Abbett & CO. LLC owned 0.12% of Cisco Systems worth $190,390,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CSCO. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $231,000. Barnett & Company Inc. boosted its position in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its position in shares of Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $104,000. Finally, Manchester Capital Management LLC boosted its position in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the last quarter. 75.78% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares of the company’s stock, valued at $4,299,852. The disclosure for this sale can be found here. Insiders sold a total of 338,622 shares of company stock valued at $12,117,914 over the last quarter. Company insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (CSCO) opened at $38.19 on Friday. Cisco Systems, Inc. has a 52-week low of $29.80 and a 52-week high of $38.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The company has a market capitalization of $187,363.28, a PE ratio of 17.47, a P/E/G ratio of 3.43 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. equities research analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s payout ratio is currently 60.10%.
A number of analysts recently commented on CSCO shares. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Bank of America reiterated a “neutral” rating and set a $35.00 price target on shares of Cisco Systems in a report on Friday, August 18th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target on the stock. in a report on Monday, September 25th. Berenberg Bank reiterated a “hold” rating and set a $33.00 price target on shares of Cisco Systems in a report on Tuesday, October 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price target on shares of Cisco Systems in a report on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $37.10.
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Cisco Systems Company 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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