Wrapmanager Inc. purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,036 shares of the network equipment provider’s stock, valued at approximately $371,000.
Several other hedge funds have also recently made changes to their positions in the company. Richard Bernstein Advisors LLC increased its holdings in Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after purchasing an additional 14,395 shares in the last quarter. Eads & Heald Investment Counsel increased its holdings in Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after purchasing an additional 5,765 shares in the last quarter. Pzena Investment Management LLC increased its holdings in Cisco Systems by 0.4% in the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares in the last quarter. Finally, Aviva PLC increased its holdings in shares of Cisco Systems by 6.5% during the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock valued at $149,343,000 after acquiring an additional 289,899 shares in the last quarter. 75.42% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on CSCO. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 price objective on shares of Cisco Systems in a report on Wednesday, January 10th. Berenberg Bank restated a “hold” rating and set a $33.00 price objective on shares of Cisco Systems in a report on Tuesday, October 24th. Royal Bank of Canada restated a “buy” rating and set a $44.00 price objective on shares of Cisco Systems in a report on Monday. Citigroup restated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “hold” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Monday, October 23rd. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.38.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up $0.86 during midday trading on Wednesday, hitting $42.09. The stock had a trading volume of 43,768,773 shares, compared to its average volume of 28,730,000. 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 current ratio of 2.87 and a quick ratio of 2.81. The stock has a market cap of $208,080.00, a PE ratio of 21.81, a PEG ratio of 3.65 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating 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 firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. research analysts forecast that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.14%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is presently 60.10%.
In related news, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the sale, the director now directly owns 113,154 shares in the company, valued at approximately $4,299,852. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is currently owned by corporate 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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