Cypress Capital Management LLC bought a new position in shares of Cisco Systems Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 230,075 shares of the network equipment provider’s stock, valued at approximately $6,601,000. Cisco Systems comprises approximately 2.2% of Cypress Capital Management LLC’s portfolio, making the stock its 21st largest position.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Peddock Capital Advisors LLC increased its position in Cisco Systems by 1.4% in the first quarter. Peddock Capital Advisors LLC now owns 18,380 shares of the network equipment provider’s stock worth $523,000 after buying an additional 252 shares during the last quarter. V Wealth Management LLC acquired a new stake in shares of Cisco Systems during the first quarter worth approximately $572,000. Private Trust Co. NA raised its stake in shares of Cisco Systems by 35.3% in the first quarter. Private Trust Co. NA now owns 96,148 shares of the network equipment provider’s stock worth $2,737,000 after buying an additional 25,082 shares during the period. Sigma Planning Corp raised its stake in shares of Cisco Systems by 20.7% in the first quarter. Sigma Planning Corp now owns 102,127 shares of the network equipment provider’s stock worth $2,908,000 after buying an additional 17,537 shares during the period. Finally, McQueen Ball & Associates Inc. raised its stake in shares of Cisco Systems by 2.1% in the first quarter. McQueen Ball & Associates Inc. now owns 64,554 shares of the network equipment provider’s stock worth $1,838,000 after buying an additional 1,336 shares during the period. Institutional investors own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.38% during trading on Thursday, hitting $31.47. The stock had a trading volume of 7,265,257 shares. The stock has a market capitalization of $157.80 billion, a PE ratio of 14.91 and a beta of 1.49. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95. The stock’s 50-day moving average is $31.28 and its 200-day moving average is $29.39.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, analysts predict that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
A number of analysts have commented on CSCO shares. Credit Suisse Group AG restated a “sell” rating on shares of Cisco Systems in a research note on Wednesday, June 8th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, June 8th. Royal Bank Of Canada restated a “buy” rating on shares of Cisco Systems in a research note on Friday, June 10th. Deutsche Bank AG restated a “buy” rating on shares of Cisco Systems in a research note on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $32.00 in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. 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 the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total value of $453,000.00. Following the transaction, the director now owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total value of $4,614,288.00. Following the completion of the transaction, the chief executive officer now directly owns 629,813 shares in the company, valued at approximately $19,530,501.13. 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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