Landsberg Bennett & Dubbaneh LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,181 shares of the network equipment provider’s stock after purchasing an additional 1,316 shares during the period. Cisco Systems comprises approximately 1.2% of Landsberg Bennett & Dubbaneh LLC’s investment portfolio, making the stock its 14th largest holding. Landsberg Bennett & Dubbaneh LLC’s holdings in Cisco Systems were worth $4,600,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $49,000. Finally, Lucia Wealth Services LLC raised its stake in shares of 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 buying an additional 480 shares during the period. Institutional investors and hedge funds own 73.31% of the company’s stock.
Several research analysts have recently weighed in on the company. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Robert W. Baird set a $54.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Friday, September 13th. ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. set a $62.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Evercore ISI began coverage on Cisco Systems in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus price target of $56.04.
Shares of CSCO opened at $46.56 on Friday. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a market capitalization of $198.85 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The stock has a fifty day simple moving average of $48.12 and a two-hundred day simple moving average of $53.20. 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 (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period last year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
In other news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total value of $3,270,400.00. Following the transaction, the chief financial officer now owns 277,548 shares of the company’s stock, valued at $12,967,042.56. 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 over the last ninety days. Corporate insiders own 0.03% of the company’s stock.
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.
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