Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,620 shares of the network equipment provider’s stock after purchasing an additional 573 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cisco Systems were worth $927,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnett & Company Inc. boosted its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the last quarter. Watermark Asset Management Inc. bought a new position in Cisco Systems in the first quarter valued at approximately $122,000. Grove Bank & Trust boosted its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Cisco Systems by 15.0% in 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 acquiring an additional 560 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 823 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems, Inc. (CSCO) opened at $34.47 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. The stock has a market cap of $169.40 billion, a PE ratio of 15.77, a P/E/G ratio of 2.99 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was down 4.0% on a year-over-year basis. equities research analysts forecast that Cisco Systems, Inc. will post 2.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.37%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.73%.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the transaction, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. 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.
A number of brokerages have issued reports on CSCO. Cowen and Company reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Friday. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Sunday, August 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective on the stock. in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $35.26.
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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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