SSI Investment Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% during the second quarter, HoldingsChannel.com reports. The fund owned 12,371 shares of the network equipment provider’s stock after selling 1,670 shares during the quarter. SSI Investment Management Inc.’s holdings in Cisco Systems were worth $534,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. purchased a new position in shares of Cisco Systems in the second quarter valued at about $110,000. Legacy Advisors LLC increased its position in shares of Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 2,940 shares during the period. Stelac Advisory Services LLC purchased a new position in shares of Cisco Systems in the first quarter valued at about $149,000. Cerebellum GP LLC purchased a new position in shares of Cisco Systems in the second quarter valued at about $174,000. Finally, Landaas & Co. WI ADV purchased a new position in shares of Cisco Systems in the second quarter valued at about $184,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Several equities analysts recently issued reports on CSCO shares. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, July 24th. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. set a $59.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 16th. Goldman Sachs Group reiterated a “buy” rating and set a $56.00 price target on shares of Cisco Systems in a research report on Thursday, August 16th. Finally, BidaskClub upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Eight investment 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 company currently has an average rating of “Buy” and an average target price of $48.76.
Shares of CSCO opened at $45.65 on Friday. The stock has a market capitalization of $214.76 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 2.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. Cisco Systems, Inc. has a fifty-two week low of $33.67 and a fifty-two week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.
In other Cisco Systems news, SVP Irving Tan sold 68,308 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.38, for a total value of $3,236,433.04. Following the sale, the senior vice president now owns 150,763 shares in the company, valued at $7,143,150.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 450,620 shares of company stock worth $21,322,282. Corporate insiders own 0.03% of the company’s stock.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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