Federated Investors Inc. PA reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,650,568 shares of the network equipment provider’s stock after selling 183,380 shares during the quarter. Federated Investors Inc. PA’s holdings in Cisco Systems were worth $51,662,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Boston Partners grew its holdings in shares of Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Cisco Systems during the first quarter valued at about $109,564,000. Acadian Asset Management LLC grew its holdings in shares of Cisco Systems by 202.3% during the second quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock valued at $87,922,000 after buying an additional 1,879,688 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Cisco Systems by 62.6% during the second quarter. Sei Investments Co. now owns 3,679,903 shares of the network equipment provider’s stock valued at $115,182,000 after buying an additional 1,416,225 shares during the last quarter. Finally, Locust Wood Capital Advisers LLC purchased a new position in Cisco Systems during the second quarter worth about $31,483,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at $36.65 on Wednesday. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $36.97. The stock has a market cap of $180,740.03, a price-to-earnings ratio of 16.82, a PEG ratio of 3.15 and a beta of 1.15. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.17%. Cisco Systems’s dividend payout ratio is currently 60.10%.
Several research analysts recently weighed in on CSCO shares. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target on the stock in a report on Wednesday, September 6th. ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Tuesday, October 31st. Deutsche Bank AG restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Wednesday, September 6th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.73.
In related news, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 235,138 shares of company stock valued at $7,562,574 over the last quarter. 0.05% of the stock is currently owned by company insiders.
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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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