IFP Advisors Inc raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.0% during the first quarter, Holdings Channel reports. The firm owned 221,080 shares of the network equipment provider’s stock after buying an additional 47,004 shares during the period. IFP Advisors Inc’s holdings in Cisco Systems were worth $7,473,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. State of New Jersey Common Pension Fund D increased its stake in shares of Cisco Systems by 0.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 4,475,000 shares of the network equipment provider’s stock valued at $151,255,000 after buying an additional 12,000 shares in the last quarter. Paragon Capital Management Ltd purchased a new stake in shares of Cisco Systems during the first quarter valued at $744,000. Tealwood Asset Management Inc. increased its stake in shares of Cisco Systems by 1.1% in the first quarter. Tealwood Asset Management Inc. now owns 155,110 shares of the network equipment provider’s stock valued at $5,243,000 after buying an additional 1,675 shares in the last quarter. Kanawha Capital Management LLC increased its stake in shares of Cisco Systems by 4.7% in the first quarter. Kanawha Capital Management LLC now owns 220,534 shares of the network equipment provider’s stock valued at $7,454,000 after buying an additional 9,994 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Cisco Systems by 11.8% in the first quarter. Strs Ohio now owns 5,991,681 shares of the network equipment provider’s stock valued at $202,518,000 after buying an additional 634,331 shares in the last quarter. 75.30% of the stock is owned by institutional investors and hedge funds.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.50 on Tuesday. The firm has a market capitalization of $157.50 billion, a PE ratio of 15.99 and a beta of 1.24. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The stock has a 50 day moving average of $31.99 and a 200-day moving average of $32.31.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a $0.29 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.68%. Cisco Systems’s dividend payout ratio is presently 58.29%.
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Several analysts recently weighed in on the stock. BMO Capital Markets downgraded shares of Cisco Systems from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $37.00 to $35.00 in a research report on Tuesday, May 9th. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $34.51 price target on the stock in a research report on Monday, March 20th. Drexel Hamilton restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, May 16th. Deutsche Bank AG boosted their price target on shares of Cisco Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 23rd. Finally, Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.32.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 over the last three months. 0.11% of the stock is owned by company insiders.
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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