Perigon Wealth Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,984 shares of the network equipment provider’s stock after purchasing an additional 534 shares during the period. Cisco Systems accounts for about 0.9% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Perigon Wealth Management LLC’s holdings in Cisco Systems were worth $5,503,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Cisco Systems by 38.3% in the 1st quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock worth $3,718,681,000 after acquiring an additional 26,179,953 shares during the period. Public Investment Fund bought a new position in Cisco Systems in the 1st quarter worth $490,881,000. APG Asset Management N.V. raised its holdings in Cisco Systems by 225.0% in the 1st quarter. APG Asset Management N.V. now owns 11,069,036 shares of the network equipment provider’s stock worth $532,232,000 after acquiring an additional 7,663,550 shares during the period. Advisor Group Holdings Inc. bought a new position in Cisco Systems in the 1st quarter worth $64,944,000. Finally, BlackRock Inc. raised its holdings in Cisco Systems by 1.9% in the 1st quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock worth $12,703,234,000 after acquiring an additional 5,966,755 shares during the period. 71.36% of the stock is owned by institutional investors and hedge funds.
Shares of CSCO stock opened at $47.10 on Friday. Cisco Systems, Inc. has a 1 year low of $32.40 and a 1 year high of $56.89. The firm’s 50 day moving average is $46.07 and its 200-day moving average is $44.16. The firm has a market capitalization of $196.08 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.01 and a beta of 0.98. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The company had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s payout ratio is 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the sale, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.
Several brokerages recently commented on CSCO. Raymond James lifted their target price on shares of Cisco Systems from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Oppenheimer assumed coverage on shares of Cisco Systems in a report on Thursday, May 28th. They set a “buy” rating and a $46.00 price objective on the stock. Credit Suisse Group restated a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a report on Monday, July 20th. Nomura boosted their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research 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’s stock. Cisco Systems currently has a consensus rating of “Hold” and an average price target 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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