Cornerstone Advisors Inc. held its stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,266 shares of the network equipment provider’s stock at the end of the first quarter. Cornerstone Advisors Inc.’s holdings in Cisco Systems were worth $448,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in CSCO. Nicholas Co. Inc. WI raised its stake in Cisco Systems by 0.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,596,895 shares of the network equipment provider’s stock valued at $78,478,000 after buying an additional 8,685 shares during the last quarter. Empirical Finance LLC bought a new stake in Cisco Systems during the fourth quarter valued at $1,145,000. Massmutual Trust Co. FSB ADV bought a new stake in Cisco Systems during the fourth quarter valued at $5,178,000. Iberiabank Corp raised its stake in Cisco Systems by 13.1% in the fourth quarter. Iberiabank Corp now owns 187,016 shares of the network equipment provider’s stock valued at $5,652,000 after buying an additional 21,713 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Cisco Systems by 7.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 674,549 shares of the network equipment provider’s stock valued at $20,385,000 after buying an additional 44,528 shares during the last quarter. Institutional investors own 75.30% of the company’s stock.
Cisco Systems, Inc. (CSCO) opened at 31.86 on Friday. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The stock has a market capitalization of $159.30 billion, a PE ratio of 16.17 and a beta of 1.24. The stock has a 50 day moving average price of $31.56 and a 200 day moving average price of $32.39.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Equities analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.64%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.
Several research firms recently weighed in on CSCO. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $37.00 to $35.00 in a report on Tuesday, May 9th. Drexel Hamilton restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Tuesday, May 16th. Deutsche Bank AG increased their price target on Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 23rd. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a report on Monday, May 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $36.00 price target (down previously from $37.00) on shares of Cisco Systems in a report on Thursday, May 18th. Twelve analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $35.32.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value 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. Insiders own 0.11% of the company’s stock.
Cisco Systems Company Profile
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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