Nwam LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,550 shares of the network equipment provider’s stock after selling 1,193 shares during the period. Nwam LLC’s holdings in Cisco Systems were worth $1,616,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. HC Financial Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter valued at approximately $1,244,000. BlueCrest Capital Management Ltd purchased a new position in Cisco Systems during the 4th quarter valued at approximately $5,732,000. WealthShield LLC purchased a new position in Cisco Systems during the 4th quarter valued at approximately $250,000. Nomura Asset Management Co. Ltd. grew its holdings in Cisco Systems by 1.7% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,891,893 shares of the network equipment provider’s stock valued at $72,460,000 after buying an additional 32,475 shares in the last quarter. Finally, Weil Company Inc. purchased a new position in Cisco Systems during the 4th quarter valued at approximately $1,028,000. 71.39% of the stock is owned by institutional investors and hedge funds.
CSCO opened at $48.33 on Friday. Cisco Systems, Inc. has a 52-week low of $33.17 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The firm has a market cap of $233.51 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.86 and a beta of 1.06.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. 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 earned $0.61 EPS. Cisco Systems’s revenue was up 5.9% compared to the same quarter last year. research analysts forecast that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, October 4th. Cisco Systems’s payout ratio is currently 56.41%.
A number of brokerages have recently commented on CSCO. Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Monday, July 9th. Credit Suisse Group lifted their target price on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, BMO Capital Markets lifted their target price on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, August 16th. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $48.37.
In other Cisco Systems news, SVP Irving Tan sold 68,308 shares of Cisco Systems stock in a transaction on Friday, September 14th. The stock was sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the completion of the sale, the senior vice president now directly owns 150,763 shares of the company’s stock, valued at approximately $7,143,150.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now directly owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 450,620 shares of company stock valued at $21,322,282. 0.05% of the stock is owned by company insiders.
Cisco Systems Profile
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.
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