Stone Ridge Asset Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 211,808 shares of the network equipment provider’s stock after acquiring an additional 12,600 shares during the period. Cisco Systems comprises about 0.6% of Stone Ridge Asset Management LLC’s holdings, making the stock its 28th largest holding. Stone Ridge Asset Management LLC’s holdings in Cisco Systems were worth $10,159,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Emerald Advisers LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth approximately $38,000. Sageworth Trust Co grew its stake in shares of Cisco Systems by 59.5% in the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after buying an additional 300 shares during the last quarter. Cordasco Financial Network grew its stake in shares of Cisco Systems by 78.4% in the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after buying an additional 502 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth approximately $70,000. Finally, Candriam Luxembourg S.C.A. grew its stake in shares of Cisco Systems by 21.1% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock worth $75,000 after buying an additional 258,073 shares during the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.
In other news, EVP Irving Tan sold 10,733 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $480,945.73. Following the transaction, the executive vice president now directly owns 172,199 shares of the company’s stock, valued at approximately $7,716,237.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total value of $3,163,300.00. Following the transaction, the chief financial officer now directly owns 352,587 shares in the company, valued at $15,933,406.53. The disclosure for this sale can be found here. Insiders have sold a total of 388,864 shares of company stock worth $17,474,321 over the last three months. Insiders own 0.03% of the company’s stock.
Several analysts recently weighed in on the company. Raymond James cut their price target on Cisco Systems from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. William Blair restated a “market perform” rating on shares of Cisco Systems in a research note on Thursday. Evercore ISI restated a “buy” rating on shares of Cisco Systems in a research note on Sunday, December 15th. Bank of America cut Cisco Systems from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Finally, Citigroup reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $54.41.
CSCO stock traded down $0.44 during midday trading on Friday, hitting $46.89. The company’s stock had a trading volume of 19,518,536 shares, compared to its average volume of 19,108,439. The company has a market cap of $207.32 billion, a PE ratio of 18.68, a P/E/G ratio of 2.84 and a beta of 1.22. Cisco Systems, Inc. has a 12 month low of $43.40 and a 12 month high of $58.26. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $47.96 and its 200-day moving average is $47.93.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. Analysts expect that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.07%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is presently 49.12%.
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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