Bedrijfstakpensioenfonds Voor DE Media PNO lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 79.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,799 shares of the network equipment provider’s stock after selling 515,000 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Cisco Systems were worth $4,567,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of CSCO. Barnett & Company Inc. grew its position 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 worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its stake 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 worth $104,000 after purchasing an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $104,000. Grove Bank & Trust lifted its stake 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 acquiring an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC lifted its stake 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 acquiring an additional 350 shares during the period. 75.42% of the stock is currently owned by institutional investors.
Several analysts have commented on CSCO shares. Barclays lifted their price objective on shares of Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Oppenheimer reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Tuesday, October 31st. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price target for the company. in a report on Friday, November 17th. Cowen reissued a “buy” rating on shares of Cisco Systems in a report on Friday, November 17th. Finally, Deutsche Bank reissued a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $40.19.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares in the company, valued at $9,892,227.92. 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 90 days. Insiders own 0.05% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at $40.60 on Tuesday. The stock has a market cap of $200,710.00, a PE ratio of 21.04, a PEG ratio of 3.55 and a beta of 1.23. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $42.98. 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 earnings results 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. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’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 fiscal 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 dividend of $0.29 per share. 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 payout ratio is 60.10%.
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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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