Stratos Wealth Partners LTD. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,366 shares of the network equipment provider’s stock after purchasing an additional 6,376 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cisco Systems were worth $5,359,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Barnett & Company Inc. boosted its stake in shares of 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 purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Cisco Systems by 36.1% in 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 during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems in the 2nd quarter valued at approximately $104,000. Grove Bank & Trust raised its holdings in Cisco Systems by 141.3% in 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 during the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Cisco Systems by 10.7% in 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 during the last quarter. 75.42% of the stock is currently owned by institutional investors.
Several research firms have issued reports on CSCO. Instinet raised their price target on shares of Cisco Systems from $39.53 to $46.00 and gave the stock a “buy” rating in a report on Monday. Nomura upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a report on Monday. Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Monday. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 price target for the company in a research report on Monday. Finally, Goldman Sachs Group assumed coverage on shares of Cisco Systems in a research report on Wednesday, February 7th. They issued a “buy” rating and a $48.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.19.
Cisco Systems, Inc. (CSCO) opened at $40.60 on Tuesday. 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 $195,421.38, a P/E ratio of 21.04, a P/E/G ratio of 3.55 and a beta of 1.23. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $42.98.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $12.11 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. research analysts expect that Cisco Systems, Inc. will post 2.23 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.86%. Cisco Systems’s dividend payout ratio is currently 60.10%.
In related news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the sale, the director now directly owns 113,154 shares in the company, valued at $4,299,852. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.
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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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