Daiwa Securities Group Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 38.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 366,531 shares of the network equipment provider’s stock after acquiring an additional 102,021 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cisco Systems were worth $11,473,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. Grove Bank & Trust increased its stake in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in Cisco Systems during the first quarter worth approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares during the last quarter. Baystate Wealth Management LLC increased its stake in Cisco Systems by 24.5% during the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in Cisco Systems by 23.1% during the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares during the last quarter. 75.32% of the stock is currently owned by institutional investors.
CSCO has been the topic of several analyst reports. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price objective on the stock in a research note on Thursday, July 6th. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Drexel Hamilton restated a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a research report on Sunday, June 25th. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG set a $40.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.30.
In other news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 485,138 shares of company stock worth $15,347,574. Company insiders own 0.11% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at 33.75 on Friday. The stock has a market capitalization of $167.13 billion, a price-to-earnings ratio of 17.76 and a beta of 1.21. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock’s 50 day moving average is $32.99 and its 200 day moving average is $32.34.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.44%. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
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Cisco Systems 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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