CIBC World Markets Inc. boosted its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 15.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,343 shares of the network equipment provider’s stock after buying an additional 53,250 shares during the period. CIBC World Markets Inc.’s holdings in Cisco Systems were worth $11,142,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. 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 in the last quarter. Vigilant Capital Management LLC increased its stake in Cisco Systems by 995.5% in the second quarter. Vigilant Capital Management LLC now owns 5,839 shares of the network equipment provider’s stock valued at $168,000 after buying an additional 5,306 shares in the last quarter. D. Scott Neal Inc. increased its stake in Cisco Systems by 48.0% in the second quarter. D. Scott Neal Inc. now owns 6,171 shares of the network equipment provider’s stock valued at $177,000 after buying an additional 2,000 shares in the last quarter. Exane Derivatives increased its stake in Cisco Systems by 76.1% in the first quarter. Exane Derivatives now owns 7,750 shares of the network equipment provider’s stock valued at $190,000 after buying an additional 3,350 shares in the last quarter. Finally, Kings Point Capital Management increased its stake in Cisco Systems by 33.2% in the first quarter. Kings Point Capital Management now owns 6,715 shares of the network equipment provider’s stock valued at $191,000 after buying an additional 1,672 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 1.37% during trading on Tuesday, reaching $31.04. 19,410,523 shares of the company were exchanged. 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 $31.35 and its 200 day moving average is $29.47. The stock has a market capitalization of $155.65 billion, a PE ratio of 14.71 and a beta of 1.48.
Cisco Systems (NASDAQ:CSCO) last released its quarterly 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 firm earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. Cisco Systems’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.
CSCO has been the topic of several research analyst reports. Credit Suisse Group AG reissued a “sell” rating on shares of Cisco Systems in a research report on Thursday, June 16th. Morgan Stanley reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Cisco Systems in a report on Monday, July 18th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cisco Systems in a report on Thursday, August 18th. Argus upped their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 19th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.50.
In other news, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the completion of the transaction, the senior vice president now directly owns 286,628 shares in the company, valued at approximately $9,000,119.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were 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 $809,480.80. The disclosure for this sale can be found here. 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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