Eads & Heald Wealth Management decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,488 shares of the network equipment provider’s stock after selling 456 shares during the period. Eads & Heald Wealth Management’s holdings in Cisco Systems were worth $1,702,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Hoey Investments Inc. acquired a new position in shares of Cisco Systems in the second quarter worth about $26,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems in the first quarter worth about $31,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems in the second quarter worth about $38,000. Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems in the first quarter worth about $32,000. Finally, Larson Financial Group LLC lifted its stake in shares of Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after acquiring an additional 356 shares in the last quarter. 71.36% of the stock is owned by institutional investors.
Shares of CSCO stock opened at $47.10 on Friday. The business has a 50 day simple moving average of $46.07 and a 200 day simple moving average of $44.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. The firm has a market capitalization of $196.08 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. Cisco Systems, Inc. has a 12-month low of $32.40 and a 12-month high of $56.89.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same period last year, the company posted $0.78 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.
Several analysts have issued reports on the company. Robert W. Baird cut Cisco Systems from an “outperform” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, June 10th. Nomura Instinet upped their price objective on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Raymond James upped their price objective on Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $48.00 to $55.00 in a research note on Tuesday, June 16th. Finally, Wolfe Research assumed coverage on Cisco Systems in a research note on Friday, July 24th. They set an “outperform” rating and a $54.00 price objective on the stock. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.33.
In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the transaction, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.03% of the company’s stock.
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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