KLCM Advisors Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,395 shares of the network equipment provider’s stock after selling 14,063 shares during the quarter. Cisco Systems accounts for 2.6% of KLCM Advisors Inc.’s holdings, making the stock its 17th largest position. KLCM Advisors Inc.’s holdings in Cisco Systems were worth $9,259,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CSCO. Nuveen Asset Management LLC increased its stake in Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after acquiring an additional 45,351,980 shares during the last quarter. Parnassus Investments CA bought a new stake in shares of Cisco Systems during the third quarter worth $444,882,000. Thoroughbred Financial Services LLC grew its stake in shares of Cisco Systems by 5,677.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after buying an additional 3,553,686 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Cisco Systems during the second quarter worth $125,277,000. Finally, Railway Pension Investments Ltd bought a new stake in shares of Cisco Systems during the second quarter worth $10,371,000. 73.27% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CSCO traded up $0.35 during mid-day trading on Thursday, reaching $48.62. 431,803 shares of the company’s stock were exchanged, compared to its average volume of 17,236,858. The firm has a market capitalization of $201.50 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.30 and a beta of 1.28. The business’s fifty day moving average price is $47.59 and its 200-day moving average price is $52.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. 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 earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s payout ratio is presently 49.12%.
CSCO has been the topic of a number of research reports. Citigroup decreased their target price on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Evercore ISI initiated coverage on shares of Cisco Systems in a research note on Wednesday, September 11th. They set an “outperform” rating and a $60.00 target price on the stock. Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $48.00 in a research note on Thursday, October 10th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Finally, Barclays assumed coverage on shares of Cisco Systems in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $55.92.
In other news, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the sale, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at $21,134,969.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is currently owned by insiders.
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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