Loveless Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,264 shares of the network equipment provider’s stock after purchasing an additional 731 shares during the period. Loveless Wealth Management LLC’s holdings in Cisco Systems were worth $1,271,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cedar Brook Financial Partners LLC grew its position in Cisco Systems by 3.3% during the second quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock worth $313,000 after buying an additional 216 shares in the last quarter. Ferris Capital LLC lifted its position in shares of Cisco Systems by 2.3% during the 2nd quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock valued at $472,000 after acquiring an additional 224 shares during the period. Armbruster Capital Management Inc. grew its holdings in shares of Cisco Systems by 3.2% during the 2nd quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock worth $339,000 after purchasing an additional 227 shares in the last quarter. NEXT Financial Group Inc increased its position in shares of Cisco Systems by 0.5% in the second quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock worth $2,291,000 after purchasing an additional 230 shares during the period. Finally, Strategic Wealth Management Group LLC raised its stake in Cisco Systems by 2.8% in the second quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.
Several equities analysts have commented on CSCO shares. BidaskClub lowered shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Credit Suisse Group lifted their price objective on shares of Cisco Systems from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Royal Bank of Canada restated a “buy” rating and set a $48.00 price objective on shares of Cisco Systems in a research report on Thursday, August 13th. Barclays downgraded Cisco Systems to a “hold” rating in a report on Thursday, July 9th. Finally, UBS Group began coverage on Cisco Systems in a report on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $47.45.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Thursday, October 1st. Cisco Systems’s dividend payout ratio is currently 49.32%.
In related news, EVP Irving Tan sold 4,141 shares of Cisco Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.08, for a total transaction of $174,253.28. Following the completion of the transaction, the executive vice president now owns 125,860 shares of the company’s stock, valued at $5,296,188.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Over the last ninety days, insiders sold 60,166 shares of company stock worth $2,528,248. 0.03% of the stock is owned by insiders.
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.
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