Advisors Capital Management LLC Has $16.44 Million Position in Cisco Systems, Inc. (CSCO)

Advisors Capital Management LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 488,707 shares of the network equipment provider’s stock after purchasing an additional 165,120 shares during the quarter. Cisco Systems accounts for 1.3% of Advisors Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Advisors Capital Management LLC’s holdings in Cisco Systems were worth $16,435,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CSCO. Strategic Financial Group LLC purchased a new position in shares of Cisco Systems in the third quarter valued at about $224,000. Adviser Investments LLC boosted its stake in shares of Cisco Systems by 42.0% during the 3rd quarter. Adviser Investments LLC now owns 216,598 shares of the network equipment provider’s stock valued at $7,284,000 after purchasing an additional 64,054 shares in the last quarter. Swedbank boosted its stake in shares of Cisco Systems by 28.4% during the 3rd quarter. Swedbank now owns 8,656,496 shares of the network equipment provider’s stock valued at $291,118,000 after purchasing an additional 1,912,167 shares in the last quarter. Whittier Trust Co. boosted its stake in Cisco Systems by 4.9% during the third quarter. Whittier Trust Co. now owns 222,276 shares of the network equipment provider’s stock worth $7,475,000 after acquiring an additional 10,353 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its stake in Cisco Systems by 6.6% during the third quarter. Gilman Hill Asset Management LLC now owns 33,200 shares of the network equipment provider’s stock worth $1,117,000 after acquiring an additional 2,053 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $38.55 on Tuesday. Cisco Systems, Inc. has a twelve month low of $29.80 and a twelve month high of $38.99. The company has a market cap of $190,576.63, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.49 and a beta of 1.19. The company has a current ratio of 2.87, a quick ratio of 2.81 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, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.

In related news, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at $4,299,852. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.

Several equities research analysts recently commented on CSCO shares. Vetr lowered 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 30th. Credit Suisse Group reiterated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 31st. Oppenheimer reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Friday, October 20th. Robert W. Baird reiterated a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research note on Monday, September 11th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $42.00 target price on shares of Cisco Systems in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $37.10.

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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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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