Northwest Investment Counselors LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 81,019 shares of the network equipment provider’s stock after selling 252 shares during the period. Cisco Systems accounts for approximately 1.3% of Northwest Investment Counselors LLC’s portfolio, making the stock its 14th largest position. Northwest Investment Counselors LLC’s holdings in Cisco Systems were worth $2,738,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Seven Eight Capital LP purchased a new position in Cisco Systems during the fourth quarter valued at approximately $112,000. Financial Management Professionals Inc. increased its position in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Cisco Systems during the fourth quarter valued at approximately $128,000. Jackson Grant Investment Advisers Inc. increased its position in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new position in Cisco Systems during the fourth quarter valued at approximately $151,000. 76.14% of the stock is currently owned by institutional investors.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.76 on Wednesday. Cisco Systems, Inc. has a 52-week low of $27.13 and a 52-week high of $34.60. The company has a market cap of $158.80 billion, a PE ratio of 16.12 and a beta of 1.23. The stock’s 50 day moving average is $32.44 and its 200-day moving average is $32.24. Cisco Systems also was the target of some unusual options trading activity on Tuesday. Investors bought 38,236 call options on the company. This is an increase of 196% compared to the typical volume of 12,927 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.65%. Cisco Systems’s dividend payout ratio is currently 58.29%.
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Several research firms have recently commented on CSCO. Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 18th. Drexel Hamilton reiterated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Finally, Vetr cut Cisco Systems from a “hold” rating to a “sell” rating and set a $33.20 price target for the company. in a research note on Wednesday, March 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.25.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by corporate insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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