Vigilant Capital Management LLC raised its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 995.5% during the second quarter, Holdings Channel reports. The fund owned 5,839 shares of the network equipment provider’s stock after buying an additional 5,306 shares during the period. Vigilant Capital Management LLC’s holdings in Cisco Systems were worth $168,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CSCO. Lazard Asset Management LLC increased its position in Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock valued at $851,976,000 after buying an additional 8,009,233 shares during the last quarter. Franklin Resources Inc. raised its position in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock worth $1,959,666,000 after buying an additional 6,635,971 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Cisco Systems during the first quarter worth approximately $120,699,000. Primecap Management Co. CA raised its position in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock worth $829,246,000 after buying an additional 4,013,625 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in Cisco Systems by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,340,695 shares of the network equipment provider’s stock worth $977,679,000 after buying an additional 2,469,580 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 1.01% during midday trading on Friday, reaching $31.34. 20,442,199 shares of the company traded hands. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95. The firm has a 50-day moving average of $31.17 and a 200-day moving average of $29.16. The stock has a market capitalization of $157.15 billion, a P/E ratio of 14.85 and a beta of 1.37.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.32%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
A number of research firms have recently commented on CSCO. RBC Capital Markets restated an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Friday. Raymond James Financial Inc. raised their price objective on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Co. restated an “outperform” rating and issued a $36.50 price objective (up from $34.00) on shares of Cisco Systems in a research report on Monday, September 19th. Robert W. Baird restated an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Friday, September 16th. Finally, Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.17 price objective for the company in a research report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $32.33.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now owns 26,804 shares of the company’s stock, valued at $809,480.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 62,910 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $31.40, for a total value of $1,975,374.00. Following the completion of the sale, the senior vice president now directly owns 286,628 shares of the company’s stock, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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