Mosaic Family Wealth LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,765 shares of the network equipment provider’s stock after selling 1,337 shares during the quarter. Mosaic Family Wealth LLC’s holdings in Cisco Systems were worth $502,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CSCO. Hoey Investments Inc. acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $26,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $31,000. Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $32,000. Avondale Wealth Management boosted its position in shares of Cisco Systems by 238.0% in the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after purchasing an additional 707 shares during the period. Finally, Efficient Wealth Management LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $44,000. 71.36% of the stock is owned by institutional investors and hedge funds.
CSCO opened at $46.40 on Monday. The firm has a market capitalization of $195.91 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The stock’s 50 day moving average price is $46.23 and its two-hundred day moving average price is $44.20. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. 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, topping 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 company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same quarter last year, the firm earned $0.78 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s payout ratio is presently 50.53%.
A number of equities analysts recently weighed in on the company. Oppenheimer assumed coverage on Cisco Systems in a research report on Thursday, May 28th. They issued a “buy” rating and a $46.00 price target for the company. Raymond James increased their price objective on Cisco Systems from $48.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. MKM Partners increased their price objective on Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $55.00 in a research note on Tuesday, June 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Cisco Systems has a consensus rating of “Hold” and an average target price of $50.33.
In other news, CAO Prat Bhatt sold 5,703 shares of Cisco Systems stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.
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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