10 15 Associates Inc. increased its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 5.0% during the second quarter, Holdings Channel reports. The firm owned 233,591 shares of the network equipment provider’s stock after buying an additional 11,061 shares during the period. Cisco Systems makes up 1.9% of 10 15 Associates Inc.’s holdings, making the stock its 22nd largest position. 10 15 Associates Inc.’s holdings in Cisco Systems were worth $6,702,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mercer Capital Advisers Inc. raised its position in Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares during the period. Pinnacle Holdings LLC raised its position in Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock worth $456,000 after buying an additional 81 shares during the period. Moody Lynn & Lieberson LLC raised its position in Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock worth $399,000 after buying an additional 83 shares during the period. Empirical Financial Services LLC raised its position in Cisco Systems by 1.1% in the second quarter. Empirical Financial Services LLC now owns 9,838 shares of the network equipment provider’s stock worth $282,000 after buying an additional 106 shares during the period. Finally, Hollencrest Securities LLC raised its position in Cisco Systems by 0.4% in the first quarter. Hollencrest Securities LLC now owns 35,453 shares of the network equipment provider’s stock worth $1,009,000 after buying an additional 128 shares during the period. 75.04% of the stock is owned by institutional investors.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.26% during trading on Tuesday, reaching $31.10. The company had a trading volume of 15,878,662 shares. The stock has a 50 day moving average price of $31.10 and a 200 day moving average price of $29.07. The firm has a market capitalization of $155.95 billion, a P/E ratio of 14.74 and a beta of 1.37. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. Cisco Systems’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. Analysts predict that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.34%. Cisco Systems’s dividend payout ratio is currently 49.06%.
A number of analysts have commented on the company. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating in a report on Monday, May 23rd. Cowen and Company reissued a “buy” rating on shares of Cisco Systems in a report on Tuesday, July 12th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $32.00 target price on shares of Cisco Systems in a report on Thursday, August 18th. Morgan Stanley lifted their target price on Cisco Systems from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, August 18th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $32.11.
In other Cisco Systems news, SVP Karen Walker sold 19,504 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $31.04, for a total transaction of $605,404.16. Following the completion of the sale, the senior vice president now owns 148,869 shares in the company, valued at $4,620,893.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mark D. Chandler sold 25,024 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the transaction, the senior vice president now directly owns 229,905 shares in the company, valued at $6,998,308.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
About Cisco Systems
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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