Opus Capital Group LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,666 shares of the network equipment provider’s stock after selling 2,730 shares during the quarter. Opus Capital Group LLC’s holdings in Cisco Systems were worth $758,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. Bainco International Investors bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Navis Wealth Advisors LLC bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Goodwin Investment Advisory bought a new position in Cisco Systems during the 4th quarter valued at $31,000. Finally, Defined Wealth Management LLC bought a new position in Cisco Systems during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
In related news, Director M Michele Burns sold 13,982 shares of Cisco Systems stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $51.55, for a total transaction of $720,772.10. Following the sale, the director now directly owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark D. Chandler sold 3,024 shares of Cisco Systems stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $142,763.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,776 shares of company stock worth $1,832,205. 0.02% of the stock is owned by company insiders.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same period last year, the business earned $0.77 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, April 5th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 2.93%. Cisco Systems’s dividend payout ratio (DPR) is 50.68%.
CSCO has been the subject of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Cisco Systems in a research note on Thursday, April 29th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, February 11th. Credit Suisse Group raised their price objective on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 10th. Oppenheimer reissued a “buy” rating and set a $50.00 price objective on shares of Cisco Systems in a research note on Tuesday, February 9th. Finally, Morgan Stanley raised their price objective on Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, April 22nd. Fourteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.71.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
Further Reading: Cost of Equity
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