Trexquant Investment LP purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 36,197 shares of the network equipment provider’s stock, valued at approximately $1,558,000.
Several other institutional investors have also recently modified their holdings of the company. HC Financial Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth approximately $1,244,000. Financial Gravity Wealth Inc. acquired a new position in shares of Cisco Systems in the first quarter worth approximately $502,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Cisco Systems by 50.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 5,785,356 shares of the network equipment provider’s stock worth $248,135,000 after acquiring an additional 1,943,896 shares during the period. Chase Investment Counsel Corp acquired a new position in shares of Cisco Systems in the first quarter worth approximately $233,000. Finally, Castleview Partners LLC acquired a new position in shares of Cisco Systems in the first quarter worth approximately $653,000. Institutional investors and hedge funds own 71.52% of the company’s stock.
A number of research firms recently commented on CSCO. Piper Jaffray Companies set a $53.00 price objective on Cisco Systems and gave the stock an “overweight” rating in a research note on Monday, October 1st. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Credit Suisse Group lifted their price objective on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. BMO Capital Markets lifted their price objective on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Finally, Morgan Stanley lifted their price objective on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 4th. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $48.76.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the sale, the chief financial officer now owns 720,930 shares in the company, valued at $34,027,896. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 450,620 shares of company stock valued at $21,322,282. Corporate insiders own 0.03% of the company’s stock.
Shares of CSCO stock opened at $45.48 on Monday. The company has a market capitalization of $219.10 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.69 and a beta of 1.11. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. 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 issued its earnings results 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 during the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. Cisco Systems’s dividend payout ratio is 56.41%.
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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