Taylor Cottrill Erickson & Associates Inc. Grows Position in Cisco Systems, Inc. (CSCO)

Taylor Cottrill Erickson & Associates Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,199 shares of the network equipment provider’s stock after purchasing an additional 1,950 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Cisco Systems were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Southeast Asset Advisors Inc. raised its holdings in Cisco Systems by 0.5% in the 1st quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after acquiring an additional 44 shares in the last quarter. Banced Corp raised its holdings in Cisco Systems by 0.4% in the 2nd quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after acquiring an additional 59 shares in the last quarter. Delta Asset Management LLC TN raised its holdings in Cisco Systems by 0.4% in the 2nd quarter. Delta Asset Management LLC TN now owns 17,489 shares of the network equipment provider’s stock valued at $547,000 after acquiring an additional 72 shares in the last quarter. Farmers National Bank raised its holdings in Cisco Systems by 1.3% in the 1st quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after acquiring an additional 83 shares in the last quarter. Finally, Asset Dedication LLC raised its holdings in Cisco Systems by 0.3% in the 2nd quarter. Asset Dedication LLC now owns 29,991 shares of the network equipment provider’s stock valued at $924,000 after acquiring an additional 91 shares in the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have weighed in on the company. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Credit Suisse Group reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Friday, October 6th. KeyCorp set a $33.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a report on Thursday, September 28th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $35.30.

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Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 33.26 on Friday. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company has a market capitalization of $164.70 billion, a price-to-earnings ratio of 17.51 and a beta of 1.21. The firm’s 50-day moving average price is $32.70 and its 200-day moving average price is $32.35.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. Cisco Systems’s payout ratio is 60.73%.

In related news, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 over the last quarter. Company insiders own 0.11% of the company’s stock.

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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