Benin Management CORP increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,659 shares of the network equipment provider’s stock after purchasing an additional 799 shares during the quarter. Cisco Systems comprises about 0.6% of Benin Management CORP’s holdings, making the stock its 23rd largest position. Benin Management CORP’s holdings in Cisco Systems were worth $2,100,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the stock. Gradient Investments LLC raised its stake in shares of Cisco Systems by 36.3% in the 4th quarter. Gradient Investments LLC now owns 6,504 shares of the network equipment provider’s stock valued at $412,000 after acquiring an additional 1,731 shares during the last quarter. Stonnington Group LLC grew its holdings in shares of Cisco Systems by 828.0% during the 4th quarter. Stonnington Group LLC now owns 96,936 shares of the network equipment provider’s stock worth $6,046,000 after acquiring an additional 86,490 shares during the period. Contravisory Investment Management Inc. grew its holdings in shares of Cisco Systems by 25.1% during the 4th quarter. Contravisory Investment Management Inc. now owns 7,097 shares of the network equipment provider’s stock worth $450,000 after acquiring an additional 1,423 shares during the period. Cottage Street Advisors LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth approximately $248,000. Finally, Diversified Trust Co grew its stake in shares of Cisco Systems by 4.9% in the 4th quarter. Diversified Trust Co now owns 164,153 shares of the network equipment provider’s stock worth $10,402,000 after buying an additional 7,707 shares during the last quarter. 73.18% of the stock is owned by institutional investors.
Shares of CSCO stock opened at $42.60 on Friday. Cisco Systems, Inc. has a 52-week low of $41.02 and a 52-week high of $64.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The firm has a market capitalization of $176.40 billion, a PE ratio of 14.95, a PEG ratio of 2.19 and a beta of 0.97. The stock has a fifty day simple moving average of $46.03 and a two hundred day simple moving average of $53.00.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period last year, the firm posted $0.75 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.57%. Cisco Systems’s payout ratio is 53.33%.
CSCO has been the topic of several analyst reports. The Goldman Sachs Group lowered their price objective on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, May 20th. UBS Group lowered their price objective on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. StockNews.com started coverage on Cisco Systems in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Credit Suisse Group lowered their price target on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $55.05.
In related news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares of the company’s stock, valued at approximately $28,532,556.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Maria Martinez sold 4,674 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.33, for a total transaction of $202,524.42. Following the completion of the transaction, the chief operating officer now directly owns 286,033 shares of the company’s stock, valued at approximately $12,393,809.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,326 shares of company stock valued at $1,103,159. Company insiders own 0.02% of the company’s stock.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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