Moors & Cabot Inc. raised its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 23.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,050 shares of the network equipment provider’s stock after buying an additional 8,127 shares during the period. Moors & Cabot Inc.’s holdings in Cisco Systems were worth $1,235,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CSCO. Sun Life Financial INC purchased a new stake in Cisco Systems during the first quarter valued at about $63,773,000. Riggs Asset Managment Co. Inc. increased its stake in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares during the last quarter. Financial Management Professionals Inc. increased its stake in Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock valued at $125,000 after buying an additional 896 shares during the last quarter. Mercer Capital Advisers Inc. increased its stake in Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock valued at $137,000 after buying an additional 35 shares during the last quarter. Finally, Parasol Investment Management LLC increased its stake in Cisco Systems by 94.1% in the second quarter. Parasol Investment Management LLC now owns 5,240 shares of the network equipment provider’s stock valued at $150,000 after buying an additional 2,540 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.41% during trading on Thursday, hitting $31.46. 7,058,076 shares of the stock were exchanged. The company has a market cap of $157.75 billion, a P/E ratio of 14.91 and a beta of 1.49. The firm’s 50-day moving average is $31.28 and its 200 day moving average is $29.39. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.29%. Cisco Systems’s payout ratio is 49.06%.
CSCO has been the subject of several research analyst reports. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 target price for the company. in a research report on Monday, September 5th. Jefferies Group reissued a “buy” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Monday, August 29th. Deutsche Bank AG boosted their target price on shares of Cisco Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Raymond James Financial Inc. boosted their target price on shares of Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $34.00 target price (up previously from $30.00) on shares of Cisco Systems in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.50.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now directly owns 26,804 shares of the company’s stock, valued at $809,480.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total transaction of $761,730.56. Following the transaction, the senior vice president now directly owns 229,905 shares of the company’s stock, valued at $6,998,308.20. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
About Cisco Systems
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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