Tuttle Tactical Management lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,098 shares of the network equipment provider’s stock after acquiring an additional 923 shares during the period. Tuttle Tactical Management’s holdings in Cisco Systems were worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. Fisher Asset Management LLC grew its position in Cisco Systems by 36.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after purchasing an additional 7,238,755 shares during the period. Thoroughbred Financial Services LLC grew its position in Cisco Systems by 5,677.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after purchasing an additional 3,553,686 shares during the period. APG Asset Management N.V. grew its position in Cisco Systems by 28.5% during the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after purchasing an additional 2,472,300 shares during the period. Railway Pension Investments Ltd acquired a new stake in Cisco Systems during the 2nd quarter worth about $10,371,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in Cisco Systems by 241.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock worth $97,665,000 after purchasing an additional 1,822,091 shares during the period. 74.28% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on CSCO. Bank of America reaffirmed a “buy” rating and set a $62.00 price target on shares of Cisco Systems in a research report on Wednesday, July 10th. Goldman Sachs Group downgraded Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their price target for the stock from $58.00 to $62.00 in a research report on Tuesday, April 16th. Barclays began coverage on Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target on the stock. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, May 21st. Finally, William Blair downgraded Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target on the stock. in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.24.
In related news, Director Steven M. West sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total value of $1,124,200.00. Following the transaction, the director now directly owns 5,263 shares of the company’s stock, valued at approximately $295,833.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the transaction, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,129 shares of company stock worth $5,159,754. Corporate insiders own 0.03% of the company’s stock.
Shares of CSCO stock traded up $1.32 during mid-day trading on Tuesday, hitting $52.86. 7,579,444 shares of the stock were exchanged, compared to its average volume of 16,546,200. The stock’s fifty day moving average price is $55.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a market capitalization of $224.44 billion, a P/E ratio of 22.59, a PEG ratio of 2.41 and a beta of 1.18.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The business had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is currently 59.83%.
Cisco Systems 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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