Fulcrum Equity Management lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,216 shares of the network equipment provider’s stock after purchasing an additional 488 shares during the quarter. Fulcrum Equity Management’s holdings in Cisco Systems were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Evolution Wealth Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth about $33,000. Lowe Wealth Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at $38,000. Personal Wealth Partners bought a new stake in Cisco Systems during the 2nd quarter valued at $44,000. Ashburton Jersey Ltd bought a new stake in Cisco Systems during the 2nd quarter valued at $49,000. Finally, Cordasco Financial Network boosted its position in Cisco Systems by 78.4% during the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 73.27% of the company’s stock.
CSCO has been the topic of several recent research reports. Morgan Stanley dropped their target price on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Citigroup dropped their target price on Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. MKM Partners dropped their target price on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Credit Suisse Group restated a “neutral” rating and set a $49.00 target price (down from $50.00) on shares of Cisco Systems in a research report on Tuesday, November 5th. Finally, Piper Jaffray Companies cut Cisco Systems from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $51.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.64.
In other news, SVP Irving Tan sold 22,896 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $1,131,520.32. Following the sale, the senior vice president now directly owns 154,819 shares in the company, valued at $7,651,154.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the completion of the sale, the chief financial officer now owns 277,548 shares in the company, valued at $12,967,042.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is currently owned by corporate insiders.
CSCO stock traded down $0.57 during trading on Monday, hitting $48.26. The stock had a trading volume of 708,026 shares, compared to its average volume of 20,421,934. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The stock has a market capitalization of $202.69 billion, a P/E ratio of 16.93, a PEG ratio of 2.30 and a beta of 1.28. The company’s 50-day moving average price is $47.56 and its two-hundred day moving average price is $52.07.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $13.39 billion. During the same period in the previous year, the firm posted $0.70 EPS. Cisco Systems’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
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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