Koshinski Asset Management Inc. raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,101 shares of the network equipment provider’s stock after purchasing an additional 7,322 shares during the period. Koshinski Asset Management Inc.’s holdings in Cisco Systems were worth $3,922,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in Cisco Systems by 3.1% during the 4th quarter. Sunbelt Securities Inc. now owns 222,012 shares of the network equipment provider’s stock worth $10,440,000 after purchasing an additional 6,712 shares in the last quarter. Pearl River Capital LLC acquired a new position in Cisco Systems during the fourth quarter worth about $227,000. Stillwater Investment Management LLC grew its holdings in Cisco Systems by 3.0% during the first quarter. Stillwater Investment Management LLC now owns 74,426 shares of the network equipment provider’s stock worth $2,926,000 after acquiring an additional 2,145 shares during the period. Fulton Bank N.A. boosted its position in shares of Cisco Systems by 37.2% in the 1st quarter. Fulton Bank N.A. now owns 128,997 shares of the network equipment provider’s stock valued at $5,071,000 after purchasing an additional 34,954 shares during the period. Finally, Wiley BROS. Aintree Capital LLC boosted its position in Cisco Systems by 6.9% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 16,988 shares of the network equipment provider’s stock worth $668,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 71.36% of the company’s stock.
Cisco Systems stock opened at $47.10 on Friday. The stock’s fifty day moving average price is $46.07 and its two-hundred day moving average price is $44.16. Cisco Systems, Inc. has a one year low of $32.40 and a one year high of $56.89. 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 cap of $196.08 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same quarter last year, the company earned $0.78 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s dividend payout ratio is presently 50.53%.
In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.03% of the company’s stock.
A number of research firms have recently weighed in on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. Wells Fargo & Co boosted their price objective on Cisco Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Robert W. Baird downgraded Cisco Systems from an “outperform” rating to a “neutral” rating and set a $48.00 target price for the company. in a research report on Wednesday, June 10th. Nomura upped their price objective on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Oppenheimer started coverage on Cisco Systems in a report on Thursday, May 28th. They issued a “buy” rating and a $46.00 price objective for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Hold” and an average target price of $50.33.
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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