Qube Research & Technologies Ltd purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,005 shares of the network equipment provider’s stock, valued at approximately $301,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. JJJ Advisors Inc. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $110,000. Legacy Advisors LLC lifted its holdings in Cisco Systems by 597.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after buying an additional 2,940 shares during the period. Cerebellum GP LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $174,000. Landaas & Co. WI ADV purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $184,000. Finally, Amussen Hunsaker Associates LLC purchased a new stake in Cisco Systems in the 1st quarter worth approximately $196,000. Institutional investors and hedge funds own 69.52% of the company’s stock.
Several equities 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 for the company in a report on Wednesday, October 3rd. Piper Jaffray Companies set a $53.00 price objective on Cisco Systems and gave the stock an “overweight” rating in a report on Monday, October 1st. UBS Group set a $56.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, September 26th. Morgan Stanley increased their price objective on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, September 4th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $53.00 price objective on shares of Cisco Systems in a 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 an average rating of “Buy” and an average target price of $50.26.
In other Cisco Systems news, SVP Irving Tan sold 28,000 shares of Cisco Systems stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the completion of the transaction, the senior vice president now owns 188,853 shares in the company, valued at $9,146,150.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $3,304,000.00. Following the transaction, the chief financial officer now owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders have sold 586,943 shares of company stock valued at $27,718,423 in the last quarter. 0.03% of the stock is owned by company insiders.
CSCO opened at $46.44 on Friday. The company has a market capitalization of $233.12 billion, a PE ratio of 19.28, a PEG ratio of 2.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems, Inc. has a 52 week low of $37.35 and a 52 week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s payout ratio is 56.41%.
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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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