Vantage Financial Partners Ltd. Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 52.9% during the third quarter, HoldingsChannel.com reports. The fund owned 11,260 shares of the network equipment provider’s stock after acquiring an additional 3,895 shares during the quarter. Vantage Financial Partners Ltd. Inc.’s holdings in Cisco Systems were worth $381,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guinness Asset Management Ltd lifted its stake in Cisco Systems by 25.5% in the 2nd quarter. Guinness Asset Management Ltd now owns 474,871 shares of the network equipment provider’s stock valued at $14,864,000 after buying an additional 96,500 shares in the last quarter. BKD Wealth Advisors LLC lifted its stake in Cisco Systems by 4.6% in the 2nd quarter. BKD Wealth Advisors LLC now owns 119,422 shares of the network equipment provider’s stock valued at $3,738,000 after buying an additional 5,263 shares in the last quarter. Cardinal Capital Management Inc. lifted its stake in Cisco Systems by 5.7% in the 2nd quarter. Cardinal Capital Management Inc. now owns 466,439 shares of the network equipment provider’s stock valued at $14,600,000 after buying an additional 25,290 shares in the last quarter. Hellman Jordan Management Co. Inc. MA purchased a new stake in Cisco Systems in the 2nd quarter valued at approximately $1,120,000. Finally, Capital One National Association lifted its stake in Cisco Systems by 1.3% in the 2nd quarter. Capital One National Association now owns 137,293 shares of the network equipment provider’s stock valued at $4,297,000 after buying an additional 1,720 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at $41.20 on Thursday. Cisco Systems, Inc. has a twelve month low of $29.92 and a twelve month high of $41.32. The stock has a market capitalization of $203,680.00, a price-to-earnings ratio of 21.35, a P/E/G ratio of 3.67 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. equities analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.82%. Cisco Systems’s dividend payout ratio is currently 60.10%.
A number of research firms recently issued reports on CSCO. Barclays upped their target price on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Group upped their target price on Cisco Systems to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Deutsche Bank reaffirmed a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of Cisco Systems in a research note on Thursday, November 16th. Bank of America upped their target price on Cisco Systems from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, November 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Thursday, December 14th. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $38.47.
In related news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares in the company, valued at approximately $26,014,864. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 348,643 shares of company stock valued at $12,892,271. 0.05% of the stock is owned by insiders.
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Cisco Systems 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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