Catawba Capital Management VA lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,507 shares of the network equipment provider’s stock after purchasing an additional 1,684 shares during the quarter. Cisco Systems makes up 1.2% of Catawba Capital Management VA’s investment portfolio, making the stock its 25th biggest holding. Catawba Capital Management VA’s holdings in Cisco Systems were worth $5,180,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Watermark Asset Management Inc. acquired a new stake in Cisco Systems during the 1st quarter worth approximately $122,000. Financial Management Professionals Inc. lifted its position in Cisco Systems by 17.7% during the 1st quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after acquiring an additional 635 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Cisco Systems by 15.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in Cisco Systems by 23.1% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares during the period. Finally, Thompson Davis & CO. Inc. lifted its position in Cisco Systems by 14.3% during the 1st quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock worth $150,000 after acquiring an additional 555 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.
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CSCO has been the subject of a number of recent research reports. Instinet reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price objective for the company in a research report on Monday, July 17th. Stifel Nicolaus set a $34.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Sunday, May 21st. Fourteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.57.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.78% on Friday, reaching $32.44. The company had a trading volume of 29,336,087 shares. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The stock has a market capitalization of $160.64 billion, a PE ratio of 17.07 and a beta of 1.19. The company has a 50 day moving average price of $31.66 and a 200 day moving average price of $32.46.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the previous year, the company posted $0.63 EPS. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
In related news, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,138 shares of company stock worth $13,239,624. 0.11% of the stock is currently owned by corporate insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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