Hodges Capital Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 113,191 shares of the network equipment provider’s stock after selling 13,910 shares during the quarter. Hodges Capital Management Inc.’s holdings in Cisco Systems were worth $4,855,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Stonehearth Capital Management LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $102,000. Keeler Thomas Management LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $108,000. Goodman Financial Corp bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $115,000. Certified Advisory Corp bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $116,000. Finally, Tarbox Family Office Inc. boosted its holdings in shares of Cisco Systems by 67.9% during the 4th quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock worth $127,000 after buying an additional 1,346 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.
In other news, EVP David Goeckeler sold 35,000 shares of the firm’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at approximately $21,222,117.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.
A number of research firms have issued reports on CSCO. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a report on Monday, June 11th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Argus increased their price target on Cisco Systems to $55.00 and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, Credit Suisse Group set a $41.00 price target on Cisco Systems and gave the stock a “hold” rating in a report on Thursday, May 17th. Twelve research 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 company. The company presently has an average rating of “Buy” and a consensus price target of $46.11.
Cisco Systems opened at $43.03 on Friday, according to Marketbeat. The firm has a market capitalization of $206.86 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.89 and a beta of 1.09. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.37. The company has a quick ratio of 2.28, a current ratio of 2.34 and a debt-to-equity ratio of 0.44.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The business had revenue of $12.46 billion during the quarter, compared to analyst estimates of $12.42 billion. During the same period in the prior year, the firm posted $0.60 EPS. equities analysts expect that Cisco Systems, Inc. will post 2.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.07%. 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.