Foundation Resource Management Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,029 shares of the network equipment provider’s stock after selling 4,249 shares during the quarter. Cisco Systems comprises approximately 2.3% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 18th largest holding. Foundation Resource Management Inc.’s holdings in Cisco Systems were worth $7,557,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Pure Financial Advisors Inc. acquired a new position in Cisco Systems in the 2nd quarter worth approximately $219,000. Bangor Savings Bank boosted its position in Cisco Systems by 4.6% in the 2nd quarter. Bangor Savings Bank now owns 28,576 shares of the network equipment provider’s stock worth $1,333,000 after purchasing an additional 1,266 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Cisco Systems by 2.0% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 86,676 shares of the network equipment provider’s stock worth $4,043,000 after purchasing an additional 1,721 shares in the last quarter. Trinity Legacy Partners LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $608,000. Finally, First National Bank of Mount Dora Trust Investment Services boosted its position in Cisco Systems by 4.6% in the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 6,121 shares of the network equipment provider’s stock worth $286,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 71.52% of the company’s stock.
Shares of CSCO traded down $0.05 during midday trading on Wednesday, reaching $45.59. The company had a trading volume of 6,795,905 shares, compared to its average volume of 25,811,290. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $58.26. The stock has a market cap of $196.00 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The firm has a 50 day simple moving average of $45.98 and a 200-day simple moving average of $44.30. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same period last year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, July 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.
Several research firms have commented on CSCO. Argus restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, March 26th. Raymond James upped their price objective on Cisco Systems from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. MKM Partners upped their price objective on Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Oppenheimer began coverage on Cisco Systems in a research report on Thursday, May 28th. They issued a “buy” rating and a $46.00 price objective on the stock. Finally, Credit Suisse Group upped their price objective on Cisco Systems from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $50.35.
In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the sale, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.03% of the stock is owned by company 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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