FDO Partners LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,951 shares of the network equipment provider’s stock, valued at approximately $235,000.
Other hedge funds have also modified their holdings of the company. Barings LLC boosted its stake in shares of Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock valued at $7,687,000 after buying an additional 32,900 shares during the last quarter. Santa Barbara Asset Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $58,476,000. First Hawaiian Bank acquired a new stake in shares of Cisco Systems during the first quarter valued at approximately $215,000. Seven Eight Capital LP acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $112,000. Finally, Dodge & Cox acquired a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $1,950,935,000. Institutional investors own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) traded down 0.73% on Wednesday, hitting $31.44. 1,734,915 shares of the stock traded hands. The stock has a 50 day moving average price of $31.58 and a 200-day moving average price of $32.47. The stock has a market cap of $157.20 billion, a price-to-earnings ratio of 15.96 and a beta of 1.24. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
Several analysts have commented on CSCO shares. Jefferies Group LLC reiterated a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research report on Friday, May 26th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a report on Monday, May 1st. Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $36.00 price target (down previously from $37.00) on shares of Cisco Systems in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $35.31.
In other news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last three months, insiders sold 396,179 shares of company stock worth $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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