Sheaff Brock Investment Advisors LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 191,733 shares of the network equipment provider’s stock after purchasing an additional 8,572 shares during the quarter. Cisco Systems comprises about 0.9% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 20th largest position. Sheaff Brock Investment Advisors LLC’s holdings in Cisco Systems were worth $8,223,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CSCO. IFG Advisory LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $2,375,000. Stonehearth Capital Management LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $102,000. Keeler Thomas Management LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $108,000. Goodman Financial Corp purchased a new stake in Cisco Systems in the 4th quarter valued at about $115,000. Finally, Certified Advisory Corp purchased a new stake in Cisco Systems in the 4th quarter valued at about $116,000. 73.80% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on CSCO shares. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.17 price target for the company in a report on Wednesday, March 7th. Goldman Sachs Group upgraded Cisco Systems from a “buy” rating to a “conviction-buy” rating in a report on Friday, March 23rd. Piper Jaffray Companies restated an “overweight” rating and issued a $49.00 price target (up previously from $48.00) on shares of Cisco Systems in a report on Wednesday, April 18th. JPMorgan Chase & Co. started coverage on Cisco Systems in a report on Thursday, May 3rd. They issued an “overweight” rating and a $57.00 price target for the company. Finally, Citigroup lifted their price target on Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 16th. Twelve analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.11.
In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the completion of the transaction, the executive vice president now owns 490,458 shares in the company, valued at approximately $21,222,117.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.
NASDAQ CSCO opened at $42.55 on Wednesday. The company has a market capitalization of $203.73 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 3.01 and a beta of 1.09. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $12.42 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. During the same quarter in the prior year, the business earned $0.60 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, July 5th. Cisco Systems’s dividend payout ratio is presently 61.40%.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.