Brown Advisory Securities LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,112 shares of the network equipment provider’s stock after buying an additional 16,007 shares during the period. Brown Advisory Securities LLC’s holdings in Cisco Systems were worth $3,015,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barings LLC boosted its position in shares of Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock worth $7,687,000 after buying an additional 32,900 shares during the last quarter. Santa Barbara Asset Management LLC bought a new position in shares of Cisco Systems during the fourth quarter worth about $58,476,000. First Hawaiian Bank bought a new position in shares of Cisco Systems during the first quarter worth about $215,000. Dodge & Cox bought a new position in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Finally, Hefty Wealth Partners boosted its position in Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock valued at $2,314,000 after buying an additional 68,048 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) traded down 0.553% on Thursday, reaching $31.445. The company had a trading volume of 3,374,192 shares. The company’s 50 day moving average price is $31.57 and its 200-day moving average price is $32.53. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a market capitalization of $157.23 billion, a P/E ratio of 15.962 and a beta of 1.24. Cisco Systems also saw some unusual options trading on Wednesday. Investors purchased 21,024 call options on the company. This is an increase of approximately 113% compared to the typical daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is 58.29%.
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Several research analysts have recently weighed in on CSCO shares. Drexel Hamilton restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 16th. Vetr cut Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target for the company. in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Finally, Citigroup Inc. set a $36.00 price target on Cisco Systems and gave the stock a “buy” rating in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.31.
In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last three months, insiders sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is owned by corporate insiders.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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