Carnegie Capital Asset Management LLC raised its holdings in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 235,180 shares of the network equipment provider’s stock after acquiring an additional 16,591 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Cisco Systems were worth $ 13,114,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. MFA Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $ 119,000. Voloridge Investment Management LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $ 1,290,000. Cetera Advisors LLC raised its holdings in shares of Cisco Systems by 18.0% in the 3rd quarter. Cetera Advisors LLC now owns 124,128 shares of the network equipment provider’s stock valued at $ 6,756,000 after purchasing an additional 18,901 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Cisco Systems by 0.4% in the 3rd quarter. Cetera Investment Advisers now owns 250,402 shares of the network equipment provider’s stock valued at $ 13,629,000 after purchasing an additional 990 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Cisco Systems by 4.3% in the 3rd quarter. Captrust Financial Advisors now owns 804,454 shares of the network equipment provider’s stock valued at $ 43,786,000 after purchasing an additional 32,837 shares in the last quarter. 73.18% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on CSCO shares. UBS Group reduced their price objective on shares of Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. Bank of America cut their price target on shares of Cisco Systems from $ 62.00 to $ 52.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. Credit Suisse Group cut their price target on shares of Cisco Systems from $ 72.00 to $ 60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Finally, TheStreet lowered shares of Cisco Systems from a “b” rating to a “c +” rating in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $ 55.05.
In other news, CEO Charles Robbins sold 12,717 shares of Cisco Systems 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 sale, the chief executive officer now owns 651,577 shares of the company stock, valued at $ 28,532,556.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $ 43.10, for a total transaction of $ 26,161.70. Following the sale, the senior vice president now directly owns 79,855 shares in the company, valued at approximately $ 3,441,750.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,326 shares of company stock worth $ 1,103,159. Insiders own 0.02% of the company stock.
NASDAQ CSCO opened at $ 44.14 on Wednesday. The firm has a market cap of $ 182.78 billion, a PE ratio of 15.49, a P / E / G ratio of 2.23 and a beta of 0.99. The firm’s fifty day moving average is $ 47.41 and its two-hundred day moving average is $ 53.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. Cisco Systems, Inc. has a one year low of $ 41.02 and a one year high of $ 64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 earnings per share for the quarter, beating the consensus estimate of $ 0.86 by $ 0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period in the prior year, the business earned $ 0.75 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $ 0.38 dividend. This represents a $ 1.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s payout ratio is 53.33%.
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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