IMS Capital Management reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,114 shares of the network equipment provider’s stock after selling 231 shares during the quarter. IMS Capital Management’s holdings in Cisco Systems were worth $492,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CSCO. Bank of New York Mellon Corp increased its holdings in shares of Cisco Systems by 193,168.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after acquiring an additional 104,687,754 shares during the last quarter. Fisher Asset Management LLC boosted its position in Cisco Systems by 36.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock valued at $1,184,580,000 after purchasing an additional 7,238,755 shares during the period. APG Asset Management N.V. boosted its position in Cisco Systems by 28.5% during the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock valued at $422,131,000 after purchasing an additional 2,472,300 shares during the period. Man Group plc boosted its position in Cisco Systems by 412.1% during the 3rd quarter. Man Group plc now owns 3,063,334 shares of the network equipment provider’s stock valued at $149,032,000 after purchasing an additional 2,465,161 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in Cisco Systems by 4,016.5% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,901,239 shares of the network equipment provider’s stock valued at $3,057,143,000 after purchasing an additional 1,855,053 shares during the period. Institutional investors own 74.49% of the company’s stock.
Shares of NASDAQ CSCO opened at $54.75 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $57.56. The stock has a market capitalization of $234.37 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.80 and a beta of 1.20.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
In other Cisco Systems news, Director Steven M. West sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total value of $1,124,200.00. Following the transaction, the director now owns 5,263 shares in the company, valued at $295,833.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the transaction, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. Insiders sold 95,129 shares of company stock worth $5,159,754 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.
CSCO has been the subject of a number of analyst reports. KeyCorp boosted their price objective on Cisco Systems from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. Goldman Sachs Group lowered Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $62.00 in a research report on Tuesday, April 16th. Oppenheimer boosted their price objective on Cisco Systems from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. BidaskClub lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Piper Jaffray Companies boosted their price objective on Cisco Systems from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $55.92.
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Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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