Cedar Capital LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,910 shares of the network equipment provider’s stock after purchasing an additional 2,944 shares during the period. Cedar Capital LLC’s holdings in Cisco Systems were worth $728,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in Cisco Systems by 1.1% in the first quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock valued at $14,539,904,000 after acquiring an additional 3,630,488 shares during the last quarter. Boston Partners boosted its holdings in Cisco Systems by 1.5% in the second quarter. Boston Partners now owns 34,447,604 shares of the network equipment provider’s stock valued at $1,482,280,000 after acquiring an additional 499,099 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Cisco Systems by 3.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 18,289,036 shares of the network equipment provider’s stock valued at $784,417,000 after acquiring an additional 526,547 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Cisco Systems by 3.8% in the second quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock valued at $773,243,000 after acquiring an additional 662,706 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Cisco Systems by 4.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,279,774 shares of the network equipment provider’s stock valued at $657,489,000 after acquiring an additional 683,733 shares during the last quarter. Institutional investors own 71.53% of the company’s stock.
Several research firms recently issued reports on CSCO. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Friday, October 26th. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 16th. Piper Jaffray Companies set a $53.00 price target on Cisco Systems and gave the company an “overweight” rating in a report on Monday, October 1st. Finally, Loop Capital reiterated a “hold” rating and issued a $47.00 price target on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.76.
NASDAQ:CSCO opened at $45.48 on Friday. Cisco Systems, Inc. has a 1-year low of $33.67 and a 1-year high of $49.47. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $214.76 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.63 and a beta of 1.07.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.
In other news, EVP David Goeckeler sold 63,050 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the sale, the executive vice president now owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the sale, the chief financial officer now directly owns 720,930 shares in the company, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock worth $21,322,282 in the last three months. Insiders own 0.03% of the company’s stock.
About Cisco Systems
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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