A. D. Beadell Investment Counsel Inc. maintained its position in Cisco Systems Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 53,805 shares of the network equipment provider’s stock at the end of the second quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Cisco Systems were worth $1,543,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CSCO. State Street Corp increased its stake in shares of Cisco Systems by 0.7% in the first quarter. State Street Corp now owns 204,881,308 shares of the network equipment provider’s stock valued at $5,832,976,000 after buying an additional 1,454,960 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cisco Systems by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 137,302,042 shares of the network equipment provider’s stock valued at $3,908,989,000 after buying an additional 1,525,298 shares during the period. Dodge & Cox increased its stake in shares of Cisco Systems by 2.0% in the first quarter. Dodge & Cox now owns 69,095,628 shares of the network equipment provider’s stock valued at $1,967,153,000 after buying an additional 1,341,950 shares during the period. Franklin Resources Inc. increased 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 valued at $1,959,666,000 after buying an additional 6,635,971 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Cisco Systems by 0.9% in the first quarter. BlackRock Group LTD now owns 54,415,499 shares of the network equipment provider’s stock valued at $1,549,209,000 after buying an additional 459,754 shares during the period. Institutional investors own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) remained flat at $31.47 during trading on Monday. The company’s stock had a trading volume of 12,759,374 shares. The firm’s 50-day moving average is $31.33 and its 200 day moving average is $29.43. The company has a market capitalization of $157.80 billion, a PE ratio of 14.91 and a beta of 1.48. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is presently 49.06%.
CSCO has been the topic of several research analyst reports. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price target on the stock. in a report on Monday, September 5th. Jefferies Group reissued a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Monday, August 29th. Deutsche Bank AG increased their price target on shares of Cisco Systems from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Raymond James Financial Inc. increased their price target on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $34.00 price target (up from $30.00) on shares of Cisco Systems in a report on Friday, August 5th. 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 given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.50.
In related news, SVP Mark D. Chandler sold 62,910 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.40, for a total value of $1,975,374.00. Following the transaction, the senior vice president now owns 286,628 shares of the company’s stock, valued at $9,000,119.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the transaction, the director now directly owns 23,104 shares in the company, valued at approximately $722,000. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by 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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