Beacon Investment Advisory Services Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 45.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 26,301 shares of the network equipment provider’s stock after acquiring an additional 8,218 shares during the period. Cisco Systems makes up approximately 0.1% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 25th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Cisco Systems were worth $823,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CSCO. Barnett & Company Inc. boosted its position in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its position in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the last quarter. Grove Bank & Trust boosted its position in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares during the last quarter. Watermark Asset Management Inc. purchased a new stake in Cisco Systems in the first quarter valued at approximately $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after buying an additional 560 shares during the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) opened at $34.04 on Wednesday. The firm has a market capitalization of $168,113.00, a price-to-earnings ratio of 15.65, a PEG ratio of 2.97 and a beta of 1.15. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $34.75.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. research analysts predict that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
A number of equities research analysts recently commented on CSCO shares. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price on the stock. in a research report on Wednesday, August 30th. Credit Suisse Group reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report 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 report on Monday, September 11th. Finally, ValuEngine upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $35.31.
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In related news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 over the last 90 days. 0.05% of the stock is currently owned by company insiders.
Cisco Systems Profile
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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