Polaris Greystone Financial Group LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,196 shares of the network equipment provider’s stock after selling 1,310 shares during the period. Polaris Greystone Financial Group LLC’s holdings in Cisco Systems were worth $12,039,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Seven Eight Capital LP purchased a new stake in Cisco Systems during the fourth quarter valued at about $112,000. Financial Management Professionals Inc. raised its stake in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Cisco Systems during the fourth quarter valued at about $128,000. Jackson Grant Investment Advisers Inc. raised its stake in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares in the last quarter. Finally, Baystate Wealth Management LLC raised its stake in Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after buying an additional 1,484 shares in the last quarter. Hedge funds and other institutional investors own 75.32% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.16 on Thursday. The stock has a 50 day moving average of $31.99 and a 200-day moving average of $32.31. The stock has a market cap of $155.80 billion, a PE ratio of 15.82 and a beta of 1.24. Cisco Systems, Inc. has a 52 week low of $28.88 and a 52 week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the firm posted $0.57 earnings per share. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.
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Several analysts recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $39.00 price target on shares of Cisco Systems in a research report on Tuesday, July 4th. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a research note on Saturday, July 1st. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $35.23.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is currently owned by insiders.
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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