Parsons Capital Management Inc. RI increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,524 shares of the network equipment provider’s stock after buying an additional 5,110 shares during the period. Parsons Capital Management Inc. RI’s holdings in Cisco Systems were worth $3,972,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Vident Investment Advisory LLC increased its stake in Cisco Systems by 0.4% in the fourth quarter. Vident Investment Advisory LLC now owns 79,180 shares of the network equipment provider’s stock worth $2,393,000 after buying an additional 333 shares during the period. Dodge & Cox bought a new stake in Cisco Systems during the fourth quarter worth about $1,950,935,000. River & Mercantile Asset Management LLP bought a new stake in Cisco Systems during the fourth quarter worth about $3,442,000. Lincoln Capital Corp bought a new stake in Cisco Systems during the fourth quarter worth about $3,083,000. Finally, Lincluden Management Ltd. increased its stake in Cisco Systems by 205.5% in the fourth quarter. Lincluden Management Ltd. now owns 333,371 shares of the network equipment provider’s stock worth $10,074,000 after buying an additional 224,260 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 2.0065% on Tuesday, reaching $31.2956. 11,041,092 shares of the company’s stock were exchanged. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company’s 50 day moving average is $31.46 and its 200-day moving average is $32.58. The stock has a market cap of $156.26 billion, a price-to-earnings ratio of 16.4714 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.78%. Cisco Systems’s dividend payout ratio is currently 60.73%.
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A number of analysts recently issued reports on CSCO shares. Jefferies Group LLC restated a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a report on Wednesday, April 26th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price for the company. in a research note on Wednesday, April 26th. Credit Suisse Group upgraded shares of Cisco Systems from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Finally, BMO Capital Markets downgraded shares of Cisco Systems from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $37.00 to $35.00 in a research note on Tuesday, May 9th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.47.
In other news, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,179 shares of company stock worth $12,503,407. 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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