Hoylecohen LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,813 shares of the network equipment provider’s stock after acquiring an additional 258 shares during the period. Hoylecohen LLC’s holdings in Cisco Systems were worth $2,090,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hoey Investments Inc. acquired a new position in Cisco Systems during the 2nd quarter worth approximately $26,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $31,000. Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $32,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $38,000. Finally, Avondale Wealth Management boosted its holdings in shares of Cisco Systems by 238.0% in the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after buying an additional 707 shares in the last quarter. Institutional investors own 71.36% of the company’s stock.
Several research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Friday, July 24th. They issued an “outperform” rating and a $54.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, May 14th. TheStreet upgraded shares of Cisco Systems from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. Nomura upped their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Citigroup upped their target price on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $50.33.
In related news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $44.87, for a total value of $255,893.61. Following 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 SEC, which is available through this hyperlink. Company insiders own 0.03% of the company’s stock.
Shares of CSCO opened at $47.10 on Friday. The company has a 50-day simple moving average of $46.07 and a 200-day simple moving average of $44.16. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $196.08 billion, a PE ratio of 15.69, a P/E/G ratio of 3.01 and a beta of 0.98. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $56.89.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same quarter last year, the firm posted $0.78 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a $0.36 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s dividend payout ratio is presently 50.53%.
Cisco Systems Company 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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