Rand Wealth LLC Has $8.03 Million Stake in Cisco Systems, Inc. (CSCO)

Rand Wealth LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,500 shares of the network equipment provider’s stock after selling 418 shares during the period. Rand Wealth LLC’s holdings in Cisco Systems were worth $8,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Seven Eight Capital LP bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $112,000. Financial Management Professionals Inc. increased its position in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $128,000. Jackson Grant Investment Advisers Inc. increased its position in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock worth $128,000 after buying an additional 4,150 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its position in shares of Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after buying an additional 1,484 shares during the last quarter. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cisco Systems, Inc. (CSCO) opened at 31.50 on Tuesday. The company has a market cap of $157.50 billion, a price-to-earnings ratio of 15.99 and a beta of 1.24. The stock has a 50 day moving average of $31.99 and a 200 day moving average of $32.31. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. During the same quarter last year, the business earned $0.57 earnings per share. Cisco Systems’s revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s payout ratio is currently 58.29%.

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A number of research analysts recently commented on the stock. Citigroup Inc. set a $36.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Friday, May 19th. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a research report on Saturday, July 1st. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price objective on the stock in a research report on Monday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $35.32.

In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock worth $12,503,407 in the last 90 days. 0.11% of the stock is owned by company insiders.

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).

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

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