John G Ullman & Associates Inc. cut its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,975 shares of the network equipment provider’s stock after selling 625 shares during the period. John G Ullman & Associates Inc.’s holdings in Cisco Systems were worth $774,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Oakbrook Investments LLC increased its stake in shares of Cisco Systems by 39.7% in the second quarter. Oakbrook Investments LLC now owns 560,567 shares of the network equipment provider’s stock valued at $16,083,000 after buying an additional 159,200 shares during the period. YHB Investment Advisors Inc. increased its stake in shares of Cisco Systems by 23.3% in the second quarter. YHB Investment Advisors Inc. now owns 51,494 shares of the network equipment provider’s stock valued at $1,477,000 after buying an additional 9,747 shares during the period. Hermes Investment Management Ltd. increased its stake in shares of Cisco Systems by 60.0% in the second quarter. Hermes Investment Management Ltd. now owns 340,416 shares of the network equipment provider’s stock valued at $9,767,000 after buying an additional 127,700 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Cisco Systems by 24.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 4,617,545 shares of the network equipment provider’s stock valued at $132,475,000 after buying an additional 900,974 shares during the period. Finally, Profit Investment Management LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at about $1,446,000. Institutional investors and hedge funds own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.03% during trading on Friday, hitting $30.18. The stock had a trading volume of 20,545,127 shares. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95. The firm’s 50 day moving average is $31.29 and its 200 day moving average is $29.51. The company has a market cap of $151.33 billion, a PE ratio of 14.30 and a beta of 1.49.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. Equities research analysts anticipate that Cisco Systems Inc. will post $2.43 EPS for the current fiscal 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 paid a $0.26 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.45%. Cisco Systems’s payout ratio is 49.06%.
CSCO has been the subject of several recent analyst reports. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price target for the company. in a report on Monday, September 5th. Jefferies Group reiterated a “buy” rating and set a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. Deutsche Bank AG increased their price objective on Cisco Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Raymond James Financial Inc. increased their price objective on Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $34.00 price objective (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 issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $32.50.
In related news, SVP Mark D. Chandler sold 25,024 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares in the company, valued at $6,998,308.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven M. West sold 15,000 shares of the company’s 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 completion of the transaction, the director now owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
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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