Hermes Investment Management Ltd. Invests $377,000 in Cisco Systems, Inc. (CSCO)

Hermes Investment Management Ltd. purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,764 shares of the network equipment provider’s stock, valued at approximately $377,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cetera Advisors LLC increased its position in shares of Cisco Systems by 1.4% during the first quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock valued at $3,350,000 after acquiring an additional 1,106 shares during the last quarter. Stellar Capital Management LLC increased its position in shares of Cisco Systems by 3.4% during the first quarter. Stellar Capital Management LLC now owns 33,236 shares of the network equipment provider’s stock valued at $1,426,000 after acquiring an additional 1,107 shares during the last quarter. FCG Advisors LLC increased its position in shares of Cisco Systems by 7.9% during the first quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock valued at $668,000 after acquiring an additional 1,140 shares during the last quarter. Neumann Capital Management LLC increased its position in shares of Cisco Systems by 6.8% during the first quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock valued at $791,000 after acquiring an additional 1,167 shares during the last quarter. Finally, Ballast Inc. increased its position in shares of Cisco Systems by 6.6% during the first quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock valued at $807,000 after acquiring an additional 1,172 shares during the last quarter. Institutional investors and hedge funds own 71.39% of the company’s stock.

NASDAQ CSCO opened at $48.41 on Thursday. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. Cisco Systems, Inc. has a 52 week low of $33.17 and a 52 week high of $49.06. The company has a market cap of $233.51 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.86 and a beta of 1.06.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. research analysts expect that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.

In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the completion of the transaction, the executive vice president now owns 547,019 shares in the company, valued at approximately $26,021,693.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock valued at $21,322,282 in the last quarter. 0.05% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on the stock. UBS Group set a $56.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Cisco Systems from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, September 4th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Tuesday, September 11th. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Finally, Loop Capital restated a “hold” rating and issued a $47.00 price objective on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. Nine 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’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.37.

About Cisco Systems

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.

See Also: Fiduciary

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

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