CAMG Solamere Management LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 523.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,696 shares of the network equipment provider’s stock after acquiring an additional 140,801 shares during the period. CAMG Solamere Management LLC’s holdings in Cisco Systems were worth $940,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cypress Wealth Services LLC bought a new position in Cisco Systems in the fourth quarter valued at approximately $282,000. Aries Wealth Management bought a new position in Cisco Systems in the fourth quarter valued at approximately $559,000. Benedict Financial Advisors Inc. grew its stake in Cisco Systems by 1.3% in the fourth quarter. Benedict Financial Advisors Inc. now owns 145,113 shares of the network equipment provider’s stock valued at $5,558,000 after purchasing an additional 1,918 shares in the last quarter. Weybosset Research & Management LLC grew its stake in Cisco Systems by 17.1% in the fourth quarter. Weybosset Research & Management LLC now owns 12,980 shares of the network equipment provider’s stock valued at $497,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Hedeker Wealth LLC grew its stake in Cisco Systems by 6.6% in the fourth quarter. Hedeker Wealth LLC now owns 52,205 shares of the network equipment provider’s stock valued at $1,999,000 after purchasing an additional 3,248 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.
A number of research analysts have weighed in on the company. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday. Cowen raised their price target on Cisco Systems from $51.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank of Canada raised their price target on Cisco Systems to $52.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. set a $59.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.58.
In related news, EVP David Goeckeler sold 35,000 shares of the business’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares in the company, valued at approximately $21,222,117.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.
Shares of NASDAQ CSCO opened at $45.87 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.34 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.37. The company has a market cap of $210.91 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period in the previous year, the company posted $0.61 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts expect that Cisco Systems, Inc. will post 2.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Friday, July 6th were paid a $0.33 dividend. The ex-dividend date was Thursday, July 5th. This represents a $1.32 annualized dividend and a yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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