Financial & Investment Management Group Ltd. Invests $204,000 in Cisco Systems, Inc. (CSCO)

Financial & Investment Management Group Ltd. bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,504 shares of the network equipment provider’s stock, valued at approximately $204,000.

Several other institutional investors have also recently bought and sold shares of the company. Liberty Capital Management Inc. grew its position in shares of Cisco Systems by 4.5% in the second quarter. Liberty Capital Management Inc. now owns 15,527 shares of the network equipment provider’s stock valued at $483,000 after purchasing an additional 675 shares during the last quarter. Buffington Mohr McNeal grew its position in shares of Cisco Systems by 10.2% in the second quarter. Buffington Mohr McNeal now owns 6,566 shares of the network equipment provider’s stock valued at $206,000 after purchasing an additional 606 shares during the last quarter. Jacobs & Co. CA grew its position in shares of Cisco Systems by 2.7% in the second quarter. Jacobs & Co. CA now owns 248,301 shares of the network equipment provider’s stock valued at $7,771,000 after purchasing an additional 6,442 shares during the last quarter. Gemmer Asset Management LLC grew its position in shares of Cisco Systems by 7.9% in the second quarter. Gemmer Asset Management LLC now owns 5,468 shares of the network equipment provider’s stock valued at $171,000 after purchasing an additional 400 shares during the last quarter. Finally, Hallmark Capital Management Inc. grew its position in shares of Cisco Systems by 1.5% in the second quarter. Hallmark Capital Management Inc. now owns 530,365 shares of the network equipment provider’s stock valued at $16,600,000 after purchasing an additional 7,898 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors.

Several research firms have recently commented on CSCO. Credit Suisse Group reaffirmed a “hold” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research report on Friday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Monday, September 25th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 target price on the stock. in a research report on Monday, September 25th. Finally, ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Fifteen analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $35.38.

In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 485,138 shares of company stock valued at $15,347,574. Insiders own 0.11% of the company’s stock.

Shares of Cisco Systems, Inc. (CSCO) traded up 0.48% during mid-day trading on Friday, reaching $33.75. The company’s stock had a trading volume of 15,464,652 shares. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $167.13 billion, a price-to-earnings ratio of 17.76 and a beta of 1.21. The company’s 50-day moving average is $32.39 and its 200 day moving average is $32.37.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.

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About Cisco Systems

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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