Scott & Selber Inc. decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,754 shares of the network equipment provider’s stock after selling 98 shares during the period. Scott & Selber Inc.’s holdings in Cisco Systems were worth $2,053,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new stake in Cisco Systems during the fourth quarter valued at $112,000. Financial Management Professionals Inc. increased its stake 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 period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Cisco Systems during the fourth quarter valued at $128,000. Jackson Grant Investment Advisers Inc. increased its stake 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 period. Finally, Baystate Wealth Management LLC increased its stake in Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after buying an additional 1,484 shares during the period. Institutional investors and hedge funds own 75.39% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.52 on Friday. The stock’s 50 day moving average price is $31.57 and its 200 day moving average price is $32.44. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $157.60 billion, a price-to-earnings ratio of 16.00 and a beta of 1.24.
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 the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is currently 58.29%.
Several research firms recently weighed in on CSCO. BMO Capital Markets restated a “hold” rating on shares of Cisco Systems in a report on Friday. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 price objective for the company. in a report on Monday, July 24th. Finally, Cowen and Company restated an “outperform” rating and issued a $39.00 price objective on shares of Cisco Systems in a report on Tuesday, July 4th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $9,315,326.24. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 in the last 90 days. 0.11% of the stock is currently 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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