Rockefeller Financial Services Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 31.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 430,658 shares of the network equipment provider’s stock after buying an additional 103,473 shares during the quarter. Rockefeller Financial Services Inc.’s holdings in Cisco Systems were worth $14,483,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Barnett & Company Inc. increased its position in Cisco Systems by 1,511.5% during the 2nd 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 in the last quarter. Tortoise Investment Management LLC increased its position in Cisco Systems by 36.1% during the 2nd 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 in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems during the 2nd quarter valued at approximately $104,000. Grove Bank & Trust increased its position in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in Cisco Systems by 10.7% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
In other Cisco Systems news, SVP Karen Walker sold 5,786 shares of Cisco Systems 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 document filed with the SEC, which is available at the SEC website. Also, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 in the last three months. 0.05% of the stock is currently owned by corporate insiders.
Cisco Systems, Inc. (NASDAQ CSCO) traded up $0.77 during mid-day trading on Friday, hitting $40.87. 23,712,990 shares of the stock traded hands, compared to its average volume of 20,490,000. The stock has a market cap of $202,050.00, a price-to-earnings ratio of 21.18, a P/E/G ratio of 3.63 and a beta of 1.19. Cisco Systems, Inc. has a twelve month low of $29.84 and a twelve month high of $40.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Cisco Systems’s quarterly revenue was down 1.7% on a year-over-year basis. research analysts expect that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The firm 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 $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.84%. Cisco Systems’s dividend payout ratio is presently 60.10%.
A number of analysts have commented on the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Wednesday. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price target on the stock in a research note on Wednesday, December 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $37.93.
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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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