Hoertkorn Richard Charles lowered its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 0.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 48,645 shares of the network equipment provider’s stock after selling 300 shares during the period. Hoertkorn Richard Charles’ holdings in Cisco Systems were worth $1,396,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Country Club Trust Company n.a. boosted its stake in shares of Cisco Systems by 3.7% in the second quarter. Country Club Trust Company n.a. now owns 569,848 shares of the network equipment provider’s stock valued at $16,349,000 after buying an additional 20,188 shares during the last quarter. Rothschild Investment Corp IL raised its position in Cisco Systems by 7.3% in the second quarter. Rothschild Investment Corp IL now owns 321,731 shares of the network equipment provider’s stock valued at $9,230,000 after buying an additional 21,834 shares during the period. CIBC World Markets Inc. raised its position in Cisco Systems by 15.9% in the second quarter. CIBC World Markets Inc. now owns 388,343 shares of the network equipment provider’s stock valued at $11,142,000 after buying an additional 53,250 shares during the period. Swedbank raised its position in Cisco Systems by 1.9% in the second quarter. Swedbank now owns 8,100,791 shares of the network equipment provider’s stock valued at $232,412,000 after buying an additional 151,782 shares during the period. Finally, GaveKal Capital LLC raised its position in Cisco Systems by 12.5% in the second quarter. GaveKal Capital LLC now owns 267,215 shares of the network equipment provider’s stock valued at $7,666,000 after buying an additional 29,706 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 2.26% during midday trading on Wednesday, hitting $30.34. 36,897,296 shares of the stock traded hands. The stock has a market capitalization of $152.14 billion, a P/E ratio of 14.38 and a beta of 1.49. The firm has a 50-day moving average price of $31.37 and a 200-day moving average price of $29.48. 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 results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. On average, equities analysts predict that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
Several research analysts have issued reports on the stock. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Wednesday, October 5th. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price target on the stock in a research report on Monday, October 3rd. Bank of America Corp. restated a “neutral” rating and issued 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 price target on shares of Cisco Systems in a research report on Friday, September 23rd. Finally, Raymond James Financial Inc. lifted their price target on shares of Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average target price of $32.50.
In other Cisco Systems news, CEO Charles Robbins sold 148,800 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the sale, the chief executive officer now directly owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carol Bartz sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $31.25, for a total transaction of $468,750.00. Following the sale, the director now directly owns 23,104 shares in the company, valued at $722,000. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Cisco Systems Company Profile
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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