Stonebridge Capital Advisors LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 87,570 shares of the network equipment provider’s stock after purchasing an additional 3,739 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Cisco Systems were worth $3,756,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Keeler Thomas Management LLC acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $108,000. Certified Advisory Corp acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $116,000. Trustcore Financial Services LLC boosted its holdings in shares of Cisco Systems by 143.5% in the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock valued at $141,000 after buying an additional 1,941 shares during the period. Smart Portfolios LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $146,000. Finally, Stelac Advisory Services LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $149,000. 73.40% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Cisco Systems in a report on Wednesday, May 9th. They issued a “neutral” rating and a $41.00 price target for the company. Macquarie assumed coverage on shares of Cisco Systems in a report on Monday, April 30th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a report on Thursday, May 3rd. They issued an “overweight” rating and a $57.00 price target for the company. Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a report on Thursday. Finally, BMO Capital Markets lifted their price target on shares of Cisco Systems from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $47.58.
In other news, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The shares were 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 of the company’s stock, valued at approximately $21,222,117.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems stock 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. The stock has a market cap of $210.91 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.64 and a beta of 1.07. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $46.37.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. Cisco Systems’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. equities analysts forecast that Cisco Systems, Inc. will post 2.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, July 5th. Cisco Systems’s payout ratio is 61.40%.
Cisco Systems Profile
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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