Chronos Wealth Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,735 shares of the network equipment provider’s stock after purchasing an additional 2,056 shares during the period. Cisco Systems makes up about 3.2% of Chronos Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Chronos Wealth Management LLC’s holdings in Cisco Systems were worth $3,299,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc lifted its stake in shares of Cisco Systems by 0.5% during the second quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock valued at $2,291,000 after acquiring an additional 230 shares during the period. Strategic Wealth Management Group LLC raised its position in shares of Cisco Systems by 2.8% during the second quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock worth $409,000 after purchasing an additional 235 shares during the period. Calton & Associates Inc. raised its position in shares of Cisco Systems by 1.6% during the first quarter. Calton & Associates Inc. now owns 14,771 shares of the network equipment provider’s stock worth $581,000 after purchasing an additional 239 shares during the period. McAdam LLC raised its position in shares of Cisco Systems by 2.1% during the first quarter. McAdam LLC now owns 11,735 shares of the network equipment provider’s stock worth $461,000 after purchasing an additional 245 shares during the period. Finally, JOYN Advisors Inc. raised its position in shares of Cisco Systems by 3.4% during the first quarter. JOYN Advisors Inc. now owns 7,576 shares of the network equipment provider’s stock worth $298,000 after purchasing an additional 246 shares during the period. 71.36% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on CSCO. BidaskClub lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Credit Suisse Group reiterated a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a report on Monday, July 20th. Barclays downgraded Cisco Systems to a “hold” rating in a report on Thursday, July 9th. Oppenheimer initiated coverage on Cisco Systems in a report on Thursday, May 28th. They set a “buy” rating and a $46.00 price objective for the company. Finally, TheStreet upgraded Cisco Systems from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $50.33.
In other news, CAO Prat Bhatt sold 5,703 shares of Cisco Systems stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the transaction, the chief accounting officer now owns 85,613 shares in the company, valued at approximately $3,841,455.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.
Shares of NASDAQ CSCO opened at $46.40 on Monday. The company has a market capitalization of $195.91 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.01 and a beta of 0.98. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $46.23 and a 200-day moving average of $44.20. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $57.50.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the previous year, the firm earned $0.78 EPS. Analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.10%. Cisco Systems’s payout ratio is 50.53%.
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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