Sterling Investment Advisors Ltd. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 43.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,805 shares of the network equipment provider’s stock after buying an additional 5,425 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Cisco Systems were worth $830,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CSCO. Hoey Investments Inc. purchased a new stake in Cisco Systems during the second quarter worth about $26,000. Lion Street Advisors LLC purchased a new stake in Cisco Systems during the first quarter worth about $31,000. Bourgeon Capital Management LLC purchased a new stake in Cisco Systems during the first quarter worth about $32,000. Avondale Wealth Management increased its stake in Cisco Systems by 238.0% during the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock worth $39,000 after purchasing an additional 707 shares during the period. Finally, Efficient Wealth Management LLC purchased a new stake in Cisco Systems during the first quarter worth about $44,000. Hedge funds and other institutional investors own 71.36% of the company’s stock.
Shares of NASDAQ CSCO opened at $46.40 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $57.50. The stock has a 50 day moving average of $46.23 and a two-hundred day moving average of $44.20. The stock has a market cap 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.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, research analysts predict 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. Shareholders of record on Monday, July 6th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s dividend payout ratio is currently 50.53%.
In other news, CAO Prat Bhatt sold 5,703 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 85,613 shares in the company, valued at $3,841,455.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.
A number of brokerages have issued reports on CSCO. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $55.00 in a research note on Tuesday, June 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 14th. Credit Suisse Group reissued a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a research report on Monday, July 20th. Oppenheimer initiated coverage on Cisco Systems in a research report on Thursday, May 28th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Wells Fargo & Co boosted their price objective on Cisco Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $50.33.
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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