Bessemer Group Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 57.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 138,657 shares of the network equipment provider’s stock after selling 184,486 shares during the period. Bessemer Group Inc.’s holdings in Cisco Systems were worth $4,662,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Barnett & Company Inc. increased its position in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC boosted its stake in 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 worth $104,000 after acquiring an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems during the second quarter worth $104,000. Grove Bank & Trust boosted its stake in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in 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 worth $113,000 after acquiring an additional 350 shares in the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up $1.07 on Monday, hitting $40.60. 38,210,185 shares of the stock were exchanged, compared to its average volume of 27,140,000. The company has a market cap of $200,710.00, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 3.55 and a beta of 1.23. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $42.98.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during 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 business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. equities research analysts forecast that Cisco Systems, Inc. will post 2.23 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, January 4th. Cisco Systems’s payout ratio is 60.10%.
A number of research firms have weighed in on CSCO. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Wednesday, January 10th. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 price objective on the stock in a research note on Monday. Royal Bank of Canada reissued a “buy” rating and set a $44.00 price target on shares of Cisco Systems in a research report on Monday. Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday. Finally, Instinet raised their price target on shares of Cisco Systems from $39.53 to $46.00 and gave the company a “buy” rating in a research report on Monday. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.19.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the transaction, the insider now directly owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by insiders.
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About Cisco Systems
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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