Northwest Investment Counselors LLC increased its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 78,623 shares of the network equipment provider’s stock after buying an additional 3,912 shares during the period. Cisco Systems makes up about 1.2% of Northwest Investment Counselors LLC’s investment portfolio, making the stock its 19th largest position. Northwest Investment Counselors LLC’s holdings in Cisco Systems were worth $2,256,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in shares of 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 valued at $851,976,000 after buying an additional 8,009,233 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of 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 valued at $1,959,666,000 after buying an additional 6,635,971 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Cisco Systems during the first quarter valued at about $120,699,000. Primecap Management Co. CA boosted its position in shares of 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 valued at $829,246,000 after buying an additional 4,013,625 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Cisco Systems by 13.5% in the second quarter. Nordea Investment Management AB now owns 25,787,526 shares of the network equipment provider’s stock valued at $739,844,000 after buying an additional 3,069,501 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.13% on Monday, reaching $30.22. 13,957,529 shares of the company’s stock were exchanged. The stock has a market cap of $151.53 billion, a price-to-earnings ratio of 14.32 and a beta of 1.48. The firm has a 50 day moving average of $31.26 and a 200-day moving average of $29.54. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Equities research analysts forecast that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.44%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.
A number of equities research analysts have weighed in on the stock. Barclays PLC upped their price objective on shares of Cisco Systems from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Drexel Hamilton restated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a report on Tuesday, August 16th. Argus restated a “buy” rating and issued a $34.00 price objective on shares of Cisco Systems in a report on Thursday, July 7th. Wells Fargo & Co. restated an “outperform” rating and issued a $36.50 price objective (up previously from $34.00) on shares of Cisco Systems in a report on Monday, September 19th. Finally, Jefferies Group restated a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. 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 issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.50.
In other news, Director John L. Hennessy sold 15,000 shares of Cisco Systems stock in a transaction 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 sale, the director now directly owns 88,369 shares of the company’s stock, valued at approximately $2,761,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $30.44, for a total value of $761,730.56. Following the completion of the sale, the senior vice president now directly owns 229,905 shares of the company’s stock, valued at $6,998,308.20. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
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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