Peddock Capital Advisors LLC boosted its position in Cisco Systems Inc. (NASDAQ:CSCO) by 12.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,708 shares of the network equipment provider’s stock after buying an additional 2,328 shares during the period. Peddock Capital Advisors LLC’s holdings in Cisco Systems were worth $594,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CSCO. Perigon Wealth Management LLC increased its position in shares of Cisco Systems by 227.3% in the fourth quarter. Perigon Wealth Management LLC now owns 74,234 shares of the network equipment provider’s stock valued at $2,016,000 after buying an additional 51,554 shares during the last quarter. Reliance Trust Co. of Delaware increased its position in shares of Cisco Systems by 2.9% in the fourth quarter. Reliance Trust Co. of Delaware now owns 291,778 shares of the network equipment provider’s stock valued at $7,923,000 after buying an additional 8,185 shares during the last quarter. J.P. Marvel Investment Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $6,505,000. Sequoia Financial Advisors LLC increased its position in shares of Cisco Systems by 13.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 161,303 shares of the network equipment provider’s stock valued at $4,380,000 after buying an additional 18,818 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,870,000. Institutional investors and hedge funds own 75.04% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 1.50% during midday trading on Friday, hitting $30.84. The company’s stock had a trading volume of 37,416,316 shares. The firm has a 50-day moving average of $31.06 and a 200 day moving average of $28.94. The firm has a market cap of $154.64 billion, a price-to-earnings ratio of 14.62 and a beta of 1.37. Cisco Systems Inc. has a 12-month low of $22.46 and a 12-month high of $31.95.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $12.60 billion for 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities research analysts predict 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. Investors of record on Wednesday, October 5th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio is presently 49.06%.
Several brokerages have recently weighed in on CSCO. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $30.77 price target for the company in a report on Tuesday, June 7th. Jefferies Group restated a “buy” rating and set a $35.00 price target on shares of Cisco Systems in a report on Monday, August 29th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, August 17th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 18th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Cisco Systems in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $31.97.
In related news, EVP Pankaj Patel sold 49,387 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $28.98, for a total value of $1,431,235.26. Following the completion of the sale, the executive vice president now owns 359,174 shares of the company’s stock, valued at $10,408,862.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
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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