1 week Ago By ABMN Staff
Private Advisor Group LLC cut its position in Cisco Systems, Inc. ( NASDAQ:CSCO – Free Report ) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC.
The institutional investor owned 394,171 shares of the network equipment provider’s stock after selling 3,343 shares during the quarter. Private Advisor Group LLC’s holdings in Cisco Systems were worth $18,727,000 at the end of the most recent reporting period. A number of other large investors have also added to or reduced their stakes in the company.
Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the 1st quarter.
Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter worth $36,000. Tidemark LLC acquired a new position in Cisco Systems during the fourth quarter valued at $41,000.
Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the first quarter valued at $41,000. 73.33% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth Several equities research analysts have recently issued reports on the stock. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.
00 in a research note on Friday, August 16th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd.
Barclays lowered their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th.
BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th.
One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $55.
89. Insider Activity In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.
36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.
52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website . In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th.
The shares were sold at an average price of $50.36, for a total transaction of $170,166.44.
Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link .
Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.
33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.
52. The disclosure for this sale can be found here . Insiders have sold a total of 71,944 shares of company stock valued at $3,566,120 over the last 90 days.
0.02% of the stock is currently owned by company insiders. Cisco Systems Stock Performance Shares of CSCO opened at $48.
50 on Friday. Cisco Systems, Inc. has a one year low of $44.
50 and a one year high of $57.09. The company has a 50-day moving average of $47.
84 and a two-hundred day moving average of $47.93. The stock has a market cap of $195.
40 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 3.98 and a beta of 0.
83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.
91 and a quick ratio of 0.83. Cisco Systems ( NASDAQ:CSCO – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 14th.
The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.
02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.
53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.
83%. The firm’s revenue was down 10.3% compared to the same quarter last year.
During the same period in the prior year, the firm earned $1.01 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc.
will post 2.9 earnings per share for the current year. Cisco Systems Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd.
Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.
60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, October 2nd.
Cisco Systems’s dividend payout ratio is 53.87%. About Cisco Systems ( Free Report ) Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China.
The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization. Further Reading Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc.
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