Van Cleef Asset Management Inc cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,116 shares of the network equipment provider’s stock after selling 1,361 shares during the quarter. Van Cleef Asset Management Inc’s holdings in Cisco Systems were worth $1,976,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CSCO. Barnett & Company Inc. boosted its holdings in Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares in the last quarter. Grove Bank & Trust boosted its holdings in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. acquired a new stake in Cisco Systems during the first quarter valued at approximately $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after purchasing an additional 560 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $36.65 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $36.97. The company has a market cap of $180,740.03, a PE ratio of 16.82, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.17%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
In other Cisco Systems news, CEO Charles Robbins sold 121,390 shares of the business’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 $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now directly owns 192,774 shares in the company, valued at $6,180,334.44. The disclosure for this sale can be found here. Insiders have sold a total of 235,138 shares of company stock worth $7,562,574 over the last three months. Insiders own 0.05% of the company’s stock.
A number of research firms have weighed in on CSCO. Jefferies Group LLC lifted their price objective on Cisco Systems to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Bank of America Corporation lifted their price objective on Cisco Systems from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price for the company in a research note on Wednesday, September 6th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research note on Monday, September 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have given a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and an average target price of $36.73.
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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