OLD Mutual Customised Solutions Proprietary Ltd. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 279,707 shares of the network equipment provider’s stock after selling 4,300 shares during the quarter. Cisco Systems accounts for approximately 1.2% of OLD Mutual Customised Solutions Proprietary Ltd.’s portfolio, making the stock its 9th biggest position. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Cisco Systems were worth $12,036,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Wealth Inc. purchased a new position in shares of Cisco Systems during the 1st quarter valued at approximately $502,000. GSA Capital Partners LLP purchased a new position in Cisco Systems in the 1st quarter valued at $2,759,000. SevenBridge Financial Group LLC lifted its holdings in Cisco Systems by 1.4% in the 1st quarter. SevenBridge Financial Group LLC now owns 93,578 shares of the network equipment provider’s stock valued at $4,014,000 after purchasing an additional 1,323 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in Cisco Systems by 61.0% in the 1st quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock valued at $393,888,000 after purchasing an additional 3,479,165 shares in the last quarter. Finally, Arvest Bank Trust Division lifted its holdings in Cisco Systems by 89.2% in the 1st quarter. Arvest Bank Trust Division now owns 371,619 shares of the network equipment provider’s stock valued at $15,939,000 after purchasing an additional 175,238 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.
NASDAQ:CSCO opened at $48.39 on Friday. The company has a market capitalization of $228.11 billion, a PE ratio of 20.68, a P/E/G ratio of 2.77 and a beta of 1.15. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a 12-month low of $37.26 and a 12-month high of $49.47.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s dividend payout ratio is presently 56.41%.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 720,930 shares of the company’s stock, valued at $34,027,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Irving Tan sold 68,308 shares of the business’s stock in a transaction on Friday, September 14th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 586,943 shares of company stock worth $27,718,423 in the last ninety days. 0.03% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, October 3rd. Piper Jaffray Companies set a $53.00 target price on Cisco Systems and gave the stock an “overweight” rating in a research note on Monday, October 1st. UBS Group set a $56.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Morgan Stanley raised their price objective on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 4th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Cisco Systems in a research report on Thursday, November 29th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.26.
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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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