Doyle Wealth Management raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 40.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,806 shares of the network equipment provider’s stock after acquiring an additional 4,585 shares during the quarter. Doyle Wealth Management’s holdings in Cisco Systems were worth $680,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after purchasing an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. bought a new stake in shares of Cisco Systems in the 1st quarter valued at $5,331,000. Winfield Associates Inc. boosted its stake in shares of Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after purchasing an additional 2,557 shares during the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of Cisco Systems by 2.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after purchasing an additional 56,027 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Cisco Systems by 29.6% in the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after purchasing an additional 478,673 shares during the last quarter. Hedge funds and other institutional investors own 71.52% of the company’s stock.
A number of equities research analysts have recently commented on CSCO shares. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, July 9th. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, July 17th. Morgan Stanley cut their target price on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, July 19th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $56.00 target price on shares of Cisco Systems in a research note on Thursday, August 16th. Eight equities research 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 stock. The company presently has an average rating of “Buy” and an average price target of $48.76.
Cisco Systems stock opened at $46.14 on Tuesday. Cisco Systems, Inc. has a 1-year low of $33.67 and a 1-year high of $49.47. The firm has a market capitalization of $219.10 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.69 and a beta of 1.11. 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 (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the firm earned $0.61 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 2.67 EPS 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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.
In other news, SVP Irving Tan sold 68,308 shares of the 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 completion of 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 accessible through the SEC website. Also, Chairman Charles Robbins sold 217,420 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $47.28, for a total transaction of $10,279,617.60. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock worth $21,322,282 over the last ninety days. Insiders own 0.03% of the company’s stock.
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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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