Canton Hathaway LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% in the third quarter, Holdings Channel reports. The institutional investor owned 41,707 shares of the network equipment provider’s stock after buying an additional 3,652 shares during the period. Cisco Systems accounts for approximately 1.1% of Canton Hathaway LLC’s holdings, making the stock its 11th largest position. Canton Hathaway LLC’s holdings in Cisco Systems were worth $2,061,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth approximately $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth approximately $38,000. Personal Wealth Partners bought a new position in Cisco Systems during the 2nd quarter worth approximately $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems during the 2nd quarter worth approximately $49,000. Finally, Lucia Wealth Services LLC raised its holdings in Cisco Systems by 72.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after purchasing an additional 480 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the sale, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock valued at $9,359,179 in the last quarter. 0.03% of the stock is currently owned by company insiders.
NASDAQ:CSCO opened at $46.56 on Friday. The company has a fifty day moving average of $48.12 and a 200-day moving average of $53.20. The firm has a market capitalization of $197.66 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio is currently 49.12%.
Several research firms have issued reports on CSCO. Bank of America restated a “buy” rating and set a $62.00 price target on shares of Cisco Systems in a report on Wednesday, July 10th. Citigroup lowered their price target on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Evercore ISI began coverage on shares of Cisco Systems in a report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price target for the company. ValuEngine lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Barclays began coverage on shares of Cisco Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $56.04.
About Cisco Systems
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.
Read More: Candlestick
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.