Abner Herrman & Brock LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,244 shares of the network equipment provider’s stock after acquiring an additional 5,449 shares during the quarter. Cisco Systems makes up 2.4% of Abner Herrman & Brock LLC’s portfolio, making the stock its 19th biggest position. Abner Herrman & Brock LLC’s holdings in Cisco Systems were worth $16,169,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Enlightenment Research LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $5,600,000. Great Valley Advisor Group Inc. lifted its holdings in shares of Cisco Systems by 87.1% during the second quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock valued at $2,935,000 after purchasing an additional 24,948 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Cisco Systems during the second quarter valued at $5,214,000. Stevens Capital Management LP lifted its holdings in shares of Cisco Systems by 39.1% during the second quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock valued at $30,394,000 after purchasing an additional 156,143 shares in the last quarter. Finally, Atlas Brown Inc. lifted its holdings in shares of Cisco Systems by 6.8% during the second quarter. Atlas Brown Inc. now owns 16,157 shares of the network equipment provider’s stock valued at $884,000 after purchasing an additional 1,025 shares in the last quarter. 73.31% of the stock is currently owned by institutional investors.
CSCO stock traded up $0.79 during trading on Friday, reaching $46.94. The stock had a trading volume of 1,049,473 shares, compared to its average volume of 19,983,844. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26. The stock’s 50 day moving average is $48.15 and its two-hundred day moving average is $53.22. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The firm has a market cap of $196.94 billion, a PE ratio of 16.45, a PEG ratio of 2.24 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Cisco Systems’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
In other news, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $1,131,520.32. Following the transaction, the senior vice president now owns 154,819 shares of the company’s stock, valued at $7,651,154.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock worth $9,359,179 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.
A number of research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Monday, August 12th. Evercore ISI started coverage on Cisco Systems in a report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price target on the stock. KeyCorp lowered their price target on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley lowered their price target on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $56.04.
Cisco Systems Company 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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