KLCM Advisors Inc. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 187,395 shares of the network equipment provider’s stock after selling 14,063 shares during the period. Cisco Systems comprises about 2.6% of KLCM Advisors Inc.’s investment portfolio, making the stock its 17th biggest position. KLCM Advisors Inc.’s holdings in Cisco Systems were worth $9,259,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth about $33,000. Lowe Wealth Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $38,000. Personal Wealth Partners purchased a new position in Cisco Systems during the 2nd quarter valued at about $44,000. Ashburton Jersey Ltd purchased a new position in Cisco Systems during the 2nd quarter valued at about $49,000. Finally, Cordasco Financial Network lifted its position in Cisco Systems by 78.4% during the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares during the period. 73.27% of the stock is currently owned by institutional investors.
In other Cisco Systems news, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock worth $9,359,179 in the last ninety days. Insiders own 0.03% of the company’s stock.
Shares of CSCO stock traded up $0.35 during trading hours on Thursday, reaching $48.62. The company had a trading volume of 431,803 shares, compared to its average volume of 17,236,858. The business has a fifty day moving average price of $47.59 and a 200-day moving average price of $52.15. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The firm has a market cap of $201.50 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51.
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, beating the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s dividend payout ratio is currently 49.12%.
A number of research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Cisco Systems in a research report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price target for the company. Barclays assumed coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target for the company. Morgan Stanley lowered their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. ValuEngine cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Citigroup reduced their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.92.
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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