NEXT Financial Group Inc increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 61.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 63,573 shares of the network equipment provider’s stock after acquiring an additional 24,225 shares during the period. NEXT Financial Group Inc’s holdings in Cisco Systems were worth $3,049,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Nachman Norwood & Parrott Inc grew its position in Cisco Systems by 8.3% in the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock worth $938,000 after purchasing an additional 1,460 shares during the last quarter. Evoke Wealth LLC acquired a new stake in Cisco Systems during the third quarter worth about $1,387,000. Eagle Asset Management Inc. increased its stake in 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 acquiring an additional 299,499 shares during the period. Sepio Capital LLC increased its stake in 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 acquiring an additional 31,894 shares during the period. Finally, Maverick Capital Ltd. acquired a new position in Cisco Systems in the 2nd quarter valued at approximately $2,455,000. 72.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the sale, the chief financial officer now directly owns 352,587 shares of the company’s stock, valued at $15,933,406.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 39,343 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the completion of the sale, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at approximately $6,177,013.92. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock valued at $17,474,321 over the last ninety days. 0.03% of the stock is currently owned by company insiders.
CSCO stock opened at $48.80 on Wednesday. The business has a fifty day moving average price of $46.91 and a 200 day moving average price of $48.95. Cisco Systems, Inc. has a fifty-two week low of $43.40 and a fifty-two week high of $58.26. The stock has a market capitalization of $207.96 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $13.16 billion for the quarter, compared to analyst estimates of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
CSCO has been the subject of a number of research reports. Citigroup downgraded Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $52.00 in a research report on Wednesday, January 8th. Piper Jaffray Companies lowered Cisco Systems from an “overweight” rating to a “neutral” rating and cut their target price for the company from $55.00 to $51.00 in a research note on Monday, November 11th. Edward Jones raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. ValuEngine upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird reissued a “buy” rating and issued a $54.00 price target on shares of Cisco Systems in a report on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $54.78.
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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