P.A.W. Capital Corp maintained its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) during the second quarter, Holdings Channel reports. The fund owned 60,000 shares of the network equipment provider’s stock at the end of the second quarter. Cisco Systems accounts for 2.0% of P.A.W. Capital Corp’s portfolio, making the stock its 20th largest position. P.A.W. Capital Corp’s holdings in Cisco Systems were worth $1,721,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CSCO. Emerald Acquisition Ltd. purchased a new stake in Cisco Systems during the second quarter worth $247,452,000. Lazard Asset Management LLC increased its stake in Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock worth $851,976,000 after buying an additional 8,009,233 shares during the period. Franklin Resources Inc. increased its stake in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock worth $1,959,666,000 after buying an additional 6,635,971 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in Cisco Systems during the first quarter worth $120,699,000. Finally, Primecap Management Co. CA increased its stake in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock worth $829,246,000 after buying an additional 4,013,625 shares during the period. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.03% during trading on Friday, reaching $31.47. The company’s stock had a trading volume of 13,073,224 shares. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95. The company has a market cap of $157.80 billion, a price-to-earnings ratio of 14.91 and a beta of 1.49. The stock’s 50 day moving average is $31.33 and its 200 day moving average is $29.43.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, equities analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid 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 3.30%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.
CSCO has been the subject of a number of recent research reports. Barclays PLC raised their price target on Cisco Systems from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 15th. Drexel Hamilton reissued a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, August 16th. Argus reissued a “buy” rating and issued a $34.00 price objective on shares of Cisco Systems in a research note on Thursday, July 7th. Wells Fargo & Co. reissued an “outperform” rating and issued a $36.50 price objective (up from $34.00) on shares of Cisco Systems in a research note on Monday, September 19th. Finally, Jefferies Group reissued a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.
In other news, SVP Mark D. Chandler sold 62,910 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total value of $1,975,374.00. Following the transaction, the senior vice president now owns 286,628 shares in the company, valued at approximately $9,000,119.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the transaction, the director now owns 88,369 shares in the company, valued at approximately $2,761,531.25. 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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