Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 18,079 shares of the network equipment provider’s stock after buying an additional 1,150 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Cisco Systems were worth $519,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Shikiar Asset Management Inc. purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $3,072,000. McQueen Ball & Associates Inc. boosted its stake in shares of Cisco Systems by 1.6% in the second quarter. McQueen Ball & Associates Inc. now owns 65,564 shares of the network equipment provider’s stock valued at $1,881,000 after buying an additional 1,010 shares during the last quarter. Howard Capital Management boosted its stake in shares of Cisco Systems by 1.1% in the second quarter. Howard Capital Management now owns 34,082 shares of the network equipment provider’s stock valued at $978,000 after buying an additional 386 shares during the last quarter. TNB Financial boosted its stake in shares of Cisco Systems by 5.2% in the second quarter. TNB Financial now owns 19,697 shares of the network equipment provider’s stock valued at $565,000 after buying an additional 965 shares during the last quarter. Finally, First Quadrant L P CA boosted its stake in shares of Cisco Systems by 9.7% in the second quarter. First Quadrant L P CA now owns 1,724,700 shares of the network equipment provider’s stock valued at $49,482,000 after buying an additional 152,000 shares during the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.05% on Friday, reaching $31.72. The company had a trading volume of 30,380,612 shares. The company has a 50 day moving average price of $31.24 and a 200 day moving average price of $29.30. The stock has a market capitalization of $159.06 billion, a PE ratio of 15.03 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 announced its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given 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 dividend yield of 3.28%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
Several analysts recently commented on the company. Bank of America Corp. reiterated a “neutral” rating and set a $33.00 price target on shares of Cisco Systems in a research report on Monday, September 26th. RBC Capital Markets restated an “outperform” rating and issued a $35.00 target price on shares of Cisco Systems in a report on Friday, September 23rd. Raymond James Financial Inc. upped their target price on Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Wells Fargo & Co. restated an “outperform” rating and issued a $36.50 target price (up from $34.00) on shares of Cisco Systems in a report on Monday, September 19th. Finally, Robert W. Baird restated an “outperform” rating and issued a $35.00 target price on shares of Cisco Systems in a report on Friday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $32.43.
In other news, SVP Karen Walker sold 10,244 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total transaction of $319,305.48. Following the completion of the sale, the senior vice president now owns 138,625 shares in the company, valued at approximately $4,320,941.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 15,000 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the sale, the director now owns 88,369 shares of the company’s stock, valued at approximately $2,761,531.25. The disclosure for this sale can be found here. 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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