Lucus Advisors LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,151 shares of the network equipment provider’s stock, valued at approximately $411,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Banco Santander S.A. purchased a new position in Cisco Systems during the fourth quarter valued at $13,576,000. Guggenheim Capital LLC increased its position in Cisco Systems by 16.5% in the fourth quarter. Guggenheim Capital LLC now owns 4,293,177 shares of the network equipment provider’s stock valued at $129,739,000 after buying an additional 607,221 shares during the last quarter. AQR Capital Management LLC increased its position in Cisco Systems by 5.2% in the fourth quarter. AQR Capital Management LLC now owns 14,032,832 shares of the network equipment provider’s stock valued at $424,072,000 after buying an additional 697,701 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Cisco Systems by 11.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 513,106 shares of the network equipment provider’s stock valued at $15,558,000 after buying an additional 54,625 shares during the last quarter. Finally, Congress Asset Management Co. MA purchased a new position in Cisco Systems during the fourth quarter valued at $4,280,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.553% during mid-day trading on Thursday, hitting $31.445. The company had a trading volume of 3,374,196 shares. The company has a 50-day moving average price of $31.57 and a 200-day moving average price of $32.53. The company has a market capitalization of $157.23 billion, a price-to-earnings ratio of 15.962 and a beta of 1.24. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. Cisco Systems also saw unusually large options trading on Wednesday. Stock investors purchased 21,024 call options on the company. This represents an increase of approximately 113% compared to the average daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. On average, equities analysts anticipate 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. Investors of record on Friday, July 7th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.67%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
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Several research analysts have recently weighed in on CSCO shares. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Vetr downgraded 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. Finally, Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now owns 178,577 shares in the company, valued at approximately $5,587,674.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction dated 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 transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 in the last 90 days. 0.11% of the stock is currently owned by company 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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