Rafferty Asset Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 38.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,915 shares of the network equipment provider’s stock after buying an additional 9,112 shares during the period. Rafferty Asset Management LLC’s holdings in Cisco Systems were worth $995,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC raised its stake in Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock worth $102,000 after buying an additional 210 shares during the last quarter. Orrstown Financial Services Inc. raised its stake in Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock worth $104,000 after buying an additional 286 shares during the last quarter. Edmond DE Rothschild Monaco acquired a new stake in Cisco Systems during the third quarter worth $111,000. Finally, Morgan Dempsey Capital Management LLC raised its stake in Cisco Systems by 19.5% in the third quarter. Morgan Dempsey Capital Management LLC now owns 4,080 shares of the network equipment provider’s stock worth $129,000 after buying an additional 667 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.03% during mid-day trading on Friday, reaching $32.84. 10,691,553 shares of the company traded hands. Cisco Systems, Inc. has a 52-week low of $25.81 and a 52-week high of $34.53. The firm’s 50-day moving average is $33.65 and its 200 day moving average is $31.59. The stock has a market capitalization of $164.46 billion, a PE ratio of 16.93 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The firm earned $11.60 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the company earned $0.57 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, April 6th will be issued a $0.29 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 3.53%. The ex-dividend date is Tuesday, April 4th. Cisco Systems’s payout ratio is 49.52%.
CSCO has been the topic of several analyst reports. BMO Capital Markets restated an “outperform” rating and set a $33.00 price target on shares of Cisco Systems in a research report on Thursday, January 12th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Wednesday, January 25th. William Blair initiated coverage on shares of Cisco Systems in a research report on Tuesday, January 17th. They set an “outperform” rating on the stock. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $31.28 price target on the stock. in a research report on Monday, January 23rd. Finally, Citigroup Inc restated a “buy” rating and set a $34.00 price target (down previously from $35.00) on shares of Cisco Systems in a research report on Thursday, December 29th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $34.23.
In other Cisco Systems news, SVP Prat Bhatt sold 15,672 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total value of $537,079.44. Following the transaction, the senior vice president now directly owns 77,174 shares of the company’s stock, valued at approximately $2,644,752.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven M. West purchased 3,027 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was acquired at an average cost of $33.92 per share, for a total transaction of $102,675.84. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at $125,504. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 371,807 shares of company stock valued at $12,668,893. Corporate 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).
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