Zeke Capital Advisors LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,036 shares of the network equipment provider’s stock after selling 7,683 shares during the period. Zeke Capital Advisors LLC’s holdings in Cisco Systems were worth $2,927,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Nachman Norwood & Parrott Inc boosted its stake in Cisco Systems by 8.3% during the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock valued at $938,000 after purchasing an additional 1,460 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of Cisco Systems during the third quarter valued at approximately $1,387,000. Eagle Asset Management Inc. boosted its position in shares of Cisco Systems by 10.3% during the third quarter. Eagle Asset Management Inc. now owns 3,195,050 shares of the network equipment provider’s stock valued at $157,867,000 after buying an additional 299,499 shares during the last quarter. Sepio Capital LLC boosted its position in shares of Cisco Systems by 16.0% during the third quarter. Sepio Capital LLC now owns 231,224 shares of the network equipment provider’s stock valued at $11,419,000 after buying an additional 31,894 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $2,455,000. 72.55% of the stock is owned by institutional investors and hedge funds.
In other Cisco Systems news, CAO Prat Bhatt sold 39,343 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total value of $3,163,300.00. Following the transaction, the chief financial officer now directly owns 352,587 shares of the company’s stock, valued at $15,933,406.53. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock worth $17,474,321 in the last ninety days. 0.03% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the company. Royal Bank of Canada set a $56.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, November 13th. Edward Jones raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. ValuEngine raised Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Wells Fargo & Co reaffirmed a “buy” rating and set a $58.00 target price (down previously from $60.00) on shares of Cisco Systems in a research report on Thursday, November 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $54.00 target price on shares of Cisco Systems in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $54.69.
NASDAQ CSCO traded up $0.03 during trading hours on Friday, reaching $49.08. 6,923,838 shares of the company were exchanged, compared to its average volume of 18,083,527. Cisco Systems, Inc. has a 1 year low of $43.40 and a 1 year high of $58.26. The business’s 50 day simple moving average is $46.53 and its 200-day simple moving average is $49.11. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $202.74 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.78 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The firm had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.35 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.85%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
Cisco Systems Company 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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