Baystate Wealth Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,228 shares of the network equipment provider’s stock after purchasing an additional 202 shares during the period. Baystate Wealth Management LLC’s holdings in Cisco Systems were worth $600,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in Cisco Systems by 0.4% in the second quarter. Private Trust Co. NA now owns 74,379 shares of the network equipment provider’s stock worth $4,070,000 after purchasing an additional 315 shares during the period. Bath Savings Trust Co increased its holdings in shares of Cisco Systems by 1.7% in the 2nd quarter. Bath Savings Trust Co now owns 21,082 shares of the network equipment provider’s stock valued at $1,153,000 after purchasing an additional 356 shares during the period. Neville Rodie & Shaw Inc. increased its holdings in shares of Cisco Systems by 6.3% in the 2nd quarter. Neville Rodie & Shaw Inc. now owns 69,516 shares of the network equipment provider’s stock valued at $3,805,000 after purchasing an additional 4,100 shares during the period. Weaver Consulting Group acquired a new position in Cisco Systems in the first quarter worth approximately $204,000. Finally, Horizon Investments LLC increased its holdings in Cisco Systems by 34.4% in the first quarter. Horizon Investments LLC now owns 36,702 shares of the network equipment provider’s stock worth $1,969,000 after buying an additional 9,389 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.
Cisco Systems stock traded down $0.02 during mid-day trading on Tuesday, hitting $57.71. 10,461,180 shares of the company were exchanged, compared to its average volume of 20,995,533. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. The company has a market capitalization of $245.54 billion, a P/E ratio of 24.66, a PEG ratio of 2.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64. The business has a fifty day moving average of $56.24.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.89 billion. During the same period last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.43%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.
A number of equities analysts recently commented on the company. MKM Partners increased their price objective on Cisco Systems to $56.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Oppenheimer assumed coverage on Pareteum in a report on Friday, April 26th. They issued an “outperform” rating and a $7.00 price objective on the stock. William Blair downgraded Medidata Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 12th. Bank of America set a $25.00 price objective on Levi Strauss & Co. and gave the stock a “hold” rating in a report on Wednesday, July 10th. Finally, BidaskClub downgraded Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.30.
In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 3,750 shares of Cisco Systems stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $55.79, for a total value of $209,212.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,129 shares of company stock valued at $5,159,754. 0.03% of the stock is currently owned by corporate 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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