Boston Family Office LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,252 shares of the network equipment provider’s stock after selling 19,000 shares during the quarter. Boston Family Office LLC’s holdings in Cisco Systems were worth $3,420,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barnett & Company Inc. raised its stake in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares in the last quarter. Grove Bank & Trust raised its stake in shares of Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. bought a new stake in shares of Cisco Systems during the first quarter valued at about $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of 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 valued at $145,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
CSCO has been the topic of a number of research analyst reports. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price on the stock in a report on Wednesday, September 6th. ValuEngine lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a report on Wednesday, September 6th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. Finally, Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $36.67.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $35.90 on Friday. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $36.67. The company has a quick ratio of 2.98, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $177,768.98, a P/E ratio of 16.54, a P/E/G ratio of 3.13 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts predict that Cisco Systems, Inc. will post 2.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In other news, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.05% 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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