Cardinal Capital Management raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,849 shares of the network equipment provider’s stock after acquiring an additional 3,998 shares during the quarter. Cisco Systems comprises approximately 1.5% of Cardinal Capital Management’s investment portfolio, making the stock its 20th biggest holding. Cardinal Capital Management’s holdings in Cisco Systems were worth $4,635,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Saratoga Research & Investment Management grew its position in shares of Cisco Systems by 0.4% during the 3rd quarter. Saratoga Research & Investment Management now owns 1,933,084 shares of the network equipment provider’s stock worth $65,010,000 after buying an additional 8,287 shares during the period. Donald L. Hagan LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $1,322,000. First Trust Advisors LP grew its position in shares of Cisco Systems by 1.9% during the 3rd quarter. First Trust Advisors LP now owns 10,044,266 shares of the network equipment provider’s stock worth $337,789,000 after buying an additional 188,148 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $177,000. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Cisco Systems by 29.3% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 53,990 shares of the network equipment provider’s stock worth $1,816,000 after buying an additional 12,225 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $40.10 on Friday. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $198,240.00, a price-to-earnings ratio of 20.78, a PEG ratio of 3.57 and a beta of 1.19. Cisco Systems, Inc. has a 1 year low of $29.80 and a 1 year high of $40.24.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. research analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In other Cisco Systems news, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $211,131.14. Following the transaction, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at $4,299,852. The disclosure for this sale can be found here. Insiders have sold 348,643 shares of company stock worth $12,892,271 over the last ninety days. Insiders own 0.05% of the company’s stock.
A number of research analysts recently issued reports on the stock. Oppenheimer restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Tuesday, October 31st. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price objective for the company. in a report on Friday, November 17th. Cowen restated a “buy” rating on shares of Cisco Systems in a report on Friday, November 17th. Deutsche Bank restated a “buy” rating and set a $45.00 price objective (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Finally, Royal Bank of Canada boosted their price objective on shares of Cisco Systems to $40.00 and gave the company an “outperform” rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $37.93.
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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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