Gyroscope Capital Management Group LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,319 shares of the network equipment provider’s stock after buying an additional 9,601 shares during the quarter. Cisco Systems makes up 2.9% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 6th largest position. Gyroscope Capital Management Group LLC’s holdings in Cisco Systems were worth $8,549,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Woodmont Investment Counsel LLC raised its stake in Cisco Systems by 0.4% in the 4th quarter. Woodmont Investment Counsel LLC now owns 41,425 shares of the network equipment provider’s stock valued at $2,625,000 after acquiring an additional 180 shares during the period. Autus Asset Management LLC raised its stake in Cisco Systems by 2.7% in the 4th quarter. Autus Asset Management LLC now owns 6,898 shares of the network equipment provider’s stock valued at $437,000 after acquiring an additional 181 shares during the period. Pinnacle Bancorp Inc. raised its stake in Cisco Systems by 1.0% in the 4th quarter. Pinnacle Bancorp Inc. now owns 19,212 shares of the network equipment provider’s stock valued at $1,217,000 after acquiring an additional 183 shares during the period. Sara Bay Financial raised its stake in Cisco Systems by 1.1% in the 4th quarter. Sara Bay Financial now owns 17,723 shares of the network equipment provider’s stock valued at $1,123,000 after acquiring an additional 186 shares during the period. Finally, Ballast Inc. raised its stake in Cisco Systems by 0.7% in the 4th quarter. Ballast Inc. now owns 27,471 shares of the network equipment provider’s stock valued at $1,740,000 after acquiring an additional 188 shares during the period. 73.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on CSCO. Credit Suisse Group lowered their price objective on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. UBS Group decreased their price target 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. Bank of America decreased their price target on Cisco Systems from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Jefferies Financial Group decreased their price target on Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.05.
NASDAQ:CSCO opened at $42.60 on Friday. The firm has a market cap of $176.40 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.97. Cisco Systems, Inc. has a fifty-two week low of $41.02 and a fifty-two 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 business has a 50-day moving average price of $46.03 and a 200-day moving average price of $53.00.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 quarter last year, the company earned $0.75 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.57%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.33%.
In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the company’s 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 in the company, valued at $28,532,556.83. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prat Bhatt sold 607 shares of the company’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 completion of the sale, the senior vice president now owns 79,855 shares in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,326 shares of company stock valued at $1,103,159. Corporate 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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