Juncture Wealth Strategies LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,200 shares of the network equipment provider’s stock after purchasing an additional 1,100 shares during the period. Juncture Wealth Strategies LLC’s holdings in Cisco Systems were worth $850,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CSCO. Truvestments Capital LLC boosted its holdings in shares of Cisco Systems by 14.4% during the third quarter. Truvestments Capital LLC now owns 34,540 shares of the network equipment provider’s stock valued at $1,707,000 after acquiring an additional 4,352 shares during the period. Cypress Capital Group lifted its holdings in Cisco Systems by 8.0% in the third quarter. Cypress Capital Group now owns 85,764 shares of the network equipment provider’s stock worth $4,238,000 after purchasing an additional 6,330 shares during the period. Bridge Creek Capital Management LLC lifted its holdings in Cisco Systems by 1.6% in the third quarter. Bridge Creek Capital Management LLC now owns 43,950 shares of the network equipment provider’s stock worth $2,172,000 after purchasing an additional 700 shares during the period. Pacer Advisors Inc. lifted its holdings in Cisco Systems by 8.1% in the third quarter. Pacer Advisors Inc. now owns 848,398 shares of the network equipment provider’s stock worth $41,919,000 after purchasing an additional 63,394 shares during the period. Finally, Baldwin Brothers Inc. MA lifted its holdings in Cisco Systems by 20.1% in the third quarter. Baldwin Brothers Inc. MA now owns 184,273 shares of the network equipment provider’s stock worth $9,105,000 after purchasing an additional 30,862 shares during the period. Hedge funds and other institutional investors own 73.31% of the company’s stock.
In other news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Goeckeler sold 70,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $49.22, for a total value of $3,445,400.00. Following the completion of the sale, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at $21,134,969.56. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock valued at $9,359,179 in the last ninety days. Company insiders own 0.03% of the company’s stock.
Cisco Systems stock traded up $0.84 during trading hours on Friday, reaching $46.99. 4,126,849 shares of the company were exchanged, compared to its average volume of 19,983,844. The firm has a market cap of $196.94 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 2.24 and a beta of 1.28. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $48.15 and a 200 day moving average of $53.22. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.98%. Cisco Systems’s payout ratio is currently 49.12%.
Several equities research analysts recently weighed in on the stock. Cowen reduced their price objective on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Credit Suisse Group set a $50.00 price target on shares of Cisco Systems and gave the company a “neutral” rating in a report on Tuesday, August 27th. Robert W. Baird set a $54.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Friday, September 13th. MKM Partners cut their price target on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Barclays assumed coverage on shares of Cisco Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $56.04.
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.
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