Cornerstone Capital Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 47.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,068 shares of the network equipment provider’s stock after purchasing an additional 4,532 shares during the period. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $554,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Ethic Inc. increased its stake in shares of Cisco Systems by 35.7% in the third quarter. Ethic Inc. now owns 41,588 shares of the network equipment provider’s stock worth $1,638,000 after buying an additional 10,937 shares during the last quarter. Marco Investment Management LLC boosted its holdings in shares of Cisco Systems by 8.6% during the third quarter. Marco Investment Management LLC now owns 382,639 shares of the network equipment provider’s stock valued at $15,072,000 after acquiring an additional 30,350 shares during the period. SVA Wealth Management LLC boosted its holdings in shares of Cisco Systems by 1.0% during the third quarter. SVA Wealth Management LLC now owns 173,940 shares of the network equipment provider’s stock valued at $6,852,000 after acquiring an additional 1,781 shares during the period. Calamos Wealth Management LLC boosted its holdings in shares of Cisco Systems by 3.2% during the third quarter. Calamos Wealth Management LLC now owns 126,053 shares of the network equipment provider’s stock valued at $4,965,000 after acquiring an additional 3,954 shares during the period. Finally, Court Place Advisors LLC boosted its holdings in shares of Cisco Systems by 2.3% during the third quarter. Court Place Advisors LLC now owns 144,989 shares of the network equipment provider’s stock valued at $5,711,000 after acquiring an additional 3,259 shares during the period. Institutional investors own 71.28% of the company’s stock.
Shares of NASDAQ:CSCO opened at $35.69 on Friday. The business’s fifty day moving average price is $39.22 and its two-hundred day moving average price is $43.23. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $50.28. The stock has a market capitalization of $150.65 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.72 and a quick ratio of 1.67.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The firm had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the business posted $0.83 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is 49.32%.
Several research firms have recently issued reports on CSCO. Wolfe Research cut shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective for the company. in a report on Friday, September 18th. BidaskClub downgraded shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Barclays downgraded Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Credit Suisse Group lowered their target price on Cisco Systems from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Finally, UBS Group initiated coverage on Cisco Systems in a research note on Wednesday, September 23rd. They issued a “neutral” rating and a $41.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.05.
In other news, EVP Irving Tan sold 4,141 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the sale, the executive vice president now owns 125,860 shares in the company, valued at $5,296,188.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 7,806 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.10, for a total value of $328,632.60. The disclosure for this sale can be found here. Insiders sold 60,166 shares of company stock worth $2,528,248 over the last quarter. Company insiders own 0.02% of the company’s stock.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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