Mathes Company Inc. maintained its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent filing with the SEC. The firm owned 9,710 shares of the network equipment provider’s stock at the end of the second quarter. Mathes Company Inc.’s holdings in Cisco Systems were worth $304,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Southeast Asset Advisors Inc. increased its position in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after buying an additional 44 shares during the last quarter. Banced Corp increased its position in shares of Cisco Systems by 0.4% in the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after buying an additional 59 shares during the last quarter. Farmers National Bank increased its position in shares of Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after buying an additional 83 shares during the last quarter. Grubman Wealth Management increased its position in shares of Cisco Systems by 1.4% in the second quarter. Grubman Wealth Management now owns 7,100 shares of the network equipment provider’s stock valued at $222,000 after buying an additional 100 shares during the last quarter. Finally, Asset Management Group Inc. increased its position in shares of Cisco Systems by 0.8% in the fourth quarter. Asset Management Group Inc. now owns 13,196 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 75.30% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at 31.86 on Friday. The stock’s 50 day moving average price is $31.56 and its 200 day moving average price is $32.39. The stock has a market cap of $159.30 billion, a price-to-earnings ratio of 16.17 and a beta of 1.24. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
Several brokerages have recently commented on CSCO. Citigroup Inc. set a $36.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Friday, May 19th. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a research report on Saturday, July 1st. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective on the stock. in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research report on Wednesday, April 26th. Twelve equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $35.32.
In other news, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,179 shares of company stock valued at $12,503,407. Insiders own 0.11% of the company’s stock.
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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