Princeton Portfolio Strategies Group LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 84,303 shares of the network equipment provider’s stock after selling 10,768 shares during the quarter. Princeton Portfolio Strategies Group LLC’s holdings in Cisco Systems were worth $3,628,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC lifted its position in shares of Cisco Systems by 47.1% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after purchasing an additional 38,725 shares in the last quarter. Covington Investment Advisors Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth about $5,331,000. Winfield Associates Inc. lifted its position in shares of Cisco Systems by 121.0% during the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after purchasing an additional 2,557 shares in the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Cisco Systems by 2.8% during the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock worth $89,158,000 after purchasing an additional 56,027 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Cisco Systems by 29.6% during the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after purchasing an additional 478,673 shares in the last quarter. 71.52% of the stock is owned by institutional investors.
CSCO stock opened at $46.50 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. Cisco Systems, Inc. has a twelve month low of $33.67 and a twelve month high of $49.47. The company has a market cap of $219.10 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.69 and a beta of 1.11.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter last year, the company earned $0.61 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. Cisco Systems’s payout ratio is currently 56.41%.
CSCO has been the topic of several research reports. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 16th. Morgan Stanley reduced their target price on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, July 19th. BidaskClub cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Tuesday, September 11th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $48.76.
In other Cisco Systems news, SVP Irving Tan sold 68,308 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the sale, the senior vice president now owns 150,763 shares of the company’s stock, valued at $7,143,150.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Charles Robbins sold 217,420 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $47.28, for a total transaction of $10,279,617.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,620 shares of company stock worth $21,322,282. 0.03% of the stock is owned by corporate insiders.
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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