Exane Derivatives raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 31.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,017 shares of the network equipment provider’s stock after buying an additional 3,560 shares during the period. Exane Derivatives’ holdings in Cisco Systems were worth $472,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Watermark Asset Management Inc. purchased a new position in Cisco Systems during the first quarter valued at $122,000. Seven Eight Capital LP purchased a new position in Cisco Systems during the fourth quarter valued at $112,000. Financial Management Professionals Inc. boosted 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 $128,000. Finally, Jackson Grant Investment Advisers Inc. boosted 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. Hedge funds and other institutional investors own 75.30% of the company’s stock.
Cisco Systems, Inc. (CSCO) opened at 31.84 on Friday. The firm has a 50-day moving average of $31.56 and a 200-day moving average of $32.39. The firm has a market capitalization of $159.20 billion, a price-to-earnings ratio of 16.16 and a beta of 1.24. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the firm earned $0.57 earnings per share. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is 58.29%.
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Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price objective on the stock in a research report on Monday, July 17th. Sanford C. Bernstein reiterated an “outperform” rating and set a $38.00 price objective on shares of Cisco Systems in a research report on Friday, July 14th. Cowen and Company reiterated an “outperform” rating and set a $39.00 price objective on shares of Cisco Systems in a research report on Tuesday, July 4th. Finally, Instinet reiterated a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. Twelve research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average target price of $35.32.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction dated 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 worth $12,503,407. 0.11% of the stock is owned by insiders.
About Cisco Systems
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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