McKinley Carter Wealth Services Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,448 shares of the network equipment provider’s stock after buying an additional 855 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Cisco Systems were worth $1,338,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cohen & Steers Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $51,000. 73.73% of the stock is owned by institutional investors and hedge funds.
CSCO has been the topic of several research analyst reports. MKM Partners decreased their price target on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. William Blair cut shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target on the stock. in a research note on Wednesday, June 12th. BidaskClub cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Citigroup decreased their price target on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $56.59.
CSCO opened at $47.91 on Friday. The firm’s fifty day moving average is $54.34 and its two-hundred day moving average is $53.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The firm has a market cap of $205.18 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26.
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 analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
Cisco Systems Company Profile
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.
Read More: Hold Rating
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