Fuller & Thaler Asset Management Inc. maintained its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,428 shares of the network equipment provider’s stock at the end of the second quarter. Fuller & Thaler Asset Management Inc.’s holdings in Cisco Systems were worth $1,131,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of CSCO. Emerald Acquisition Ltd. bought a new stake in shares of Cisco Systems during the second quarter worth about $247,452,000. Lazard Asset Management LLC raised its stake in shares of 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 worth $851,976,000 after buying an additional 8,009,233 shares during the period. Franklin Resources Inc. raised its stake in shares of 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. bought a new stake in shares of Cisco Systems during the first quarter worth about $120,699,000. Finally, Primecap Management Co. CA raised its stake in shares of 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. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.38% during midday trading on Thursday, hitting $31.47. 7,059,200 shares of the stock traded hands. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95. The firm’s 50-day moving average is $31.28 and its 200 day moving average is $29.39. The company has a market capitalization of $157.80 billion, a price-to-earnings ratio of 14.91 and a beta of 1.49.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The business earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. Cisco Systems’s revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.29%. Cisco Systems’s dividend payout ratio is 49.06%.
Several equities research analysts recently weighed in on CSCO shares. Credit Suisse Group AG reiterated a “sell” rating on shares of Cisco Systems in a research note on Thursday, June 16th. Morgan Stanley reiterated a “hold” rating and set a $28.00 price objective on shares of Cisco Systems in a research note on Monday, July 18th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, August 18th. Argus increased their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.50.
In other news, insider John T. Chambers sold 541,666 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.08, for a total value of $16,834,979.28. Following the completion of the transaction, the insider now owns 2,008,697 shares of the company’s stock, valued at $62,430,302.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the completion of the transaction, the chief executive officer now directly owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. 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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