North Star Investment Management Corp. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,082 shares of the network equipment provider’s stock after buying an additional 100 shares during the period. North Star Investment Management Corp.’s holdings in Cisco Systems were worth $1,630,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter worth about $227,000. Janus Capital Management LLC boosted its position in Cisco Systems by 78.5% in the fourth quarter. Janus Capital Management LLC now owns 2,989,378 shares of the network equipment provider’s stock worth $90,339,000 after buying an additional 1,314,340 shares during the last quarter. Glassman Wealth Services boosted its position in Cisco Systems by 56.8% in the fourth quarter. Glassman Wealth Services now owns 20,286 shares of the network equipment provider’s stock worth $613,000 after buying an additional 7,350 shares during the last quarter. Intellectus Partners LLC acquired a new position in Cisco Systems during the fourth quarter worth about $1,300,000. Finally, First Republic Investment Management Inc. boosted its position in Cisco Systems by 5.3% in the fourth quarter. First Republic Investment Management Inc. now owns 2,424,898 shares of the network equipment provider’s stock worth $73,280,000 after buying an additional 122,135 shares during the last quarter. 75.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded down 1.096% during midday trading on Wednesday, hitting $31.303. The company’s stock had a trading volume of 5,601,348 shares. The firm has a market cap of $156.52 billion, a P/E ratio of 15.890 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. The stock’s 50 day moving average is $31.58 and its 200-day moving average is $32.49.
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, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Equities analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.67%. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
A number of research analysts have issued reports on the company. BMO Capital Markets cut Cisco Systems from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Drexel Hamilton reissued a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, May 16th. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. Finally, Berenberg Bank assumed coverage on Cisco Systems in a research note on Tuesday, April 4th. They issued a “hold” rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus price target of $35.31.
In other news, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock valued at $12,503,407 over the last 90 days. Company 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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