Rudd International Inc. Acquires New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

Share on StockTwits

Rudd International Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,012 shares of the network equipment provider’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC boosted its holdings in shares of Cisco Systems by 2.0% during the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after purchasing an additional 202 shares during the last quarter. Bartlett & Co. LLC boosted its holdings in shares of Cisco Systems by 0.4% during the second quarter. Bartlett & Co. LLC now owns 51,901 shares of the network equipment provider’s stock worth $2,841,000 after purchasing an additional 206 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Cisco Systems by 6.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after purchasing an additional 207 shares during the last quarter. Ford Financial Group Inc. boosted its holdings in shares of Cisco Systems by 2.4% during the second quarter. Ford Financial Group Inc. now owns 9,302 shares of the network equipment provider’s stock worth $509,000 after purchasing an additional 218 shares during the last quarter. Finally, Bray Capital Advisors boosted its holdings in shares of Cisco Systems by 2.8% during the second quarter. Bray Capital Advisors now owns 8,217 shares of the network equipment provider’s stock worth $450,000 after purchasing an additional 220 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,925 shares of company stock worth $4,976,706. 0.03% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on the company. KeyCorp decreased their price objective on Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada decreased their price objective on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Citigroup decreased their price objective on Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Bank of America restated a “buy” rating and set a $62.00 price objective on shares of Cisco Systems in a report on Wednesday, July 10th. Finally, Barclays initiated coverage on Cisco Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $56.59.

Shares of CSCO opened at $47.91 on Friday. The stock’s 50-day moving average is $54.34 and its two-hundred day moving average is $53.77. The stock has a market cap of $205.18 billion, a PE ratio of 16.81, a P/E/G ratio of 2.23 and a beta of 1.18. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is presently 49.12%.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: Street Name

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Swiss National Bank Buys 4,900 Shares of ChannelAdvisor Corp
Swiss National Bank Buys 4,900 Shares of ChannelAdvisor Corp
Doheny Asset Management CA Buys 960 Shares of AT&T Inc.
Doheny Asset Management CA Buys 960 Shares of AT&T Inc.
Doheny Asset Management CA Buys 2,865 Shares of Xilinx, Inc.
Doheny Asset Management CA Buys 2,865 Shares of Xilinx, Inc.
$1.31 EPS Expected for Microchip Technology Inc.  This Quarter
$1.31 EPS Expected for Microchip Technology Inc. This Quarter
Doheny Asset Management CA Has $387,000 Stock Holdings in Lowe’s Companies, Inc.
Doheny Asset Management CA Has $387,000 Stock Holdings in Lowe’s Companies, Inc.
-$0.63 Earnings Per Share Expected for Instructure Inc  This Quarter
-$0.63 Earnings Per Share Expected for Instructure Inc This Quarter


© 2006-2019 Ticker Report