Mork Capital Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,900 shares of the network equipment provider’s stock after selling 12,100 shares during the period. Mork Capital Management LLC’s holdings in Cisco Systems were worth $943,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Norges Bank purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $1,306,395,000. Loomis Sayles & Co. L P increased its position in shares of Cisco Systems by 4.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 39,089,052 shares of the network equipment provider’s stock worth $1,181,271,000 after buying an additional 1,624,597 shares during the period. Boston Partners increased its position in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock worth $768,153,000 after buying an additional 1,365,708 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at 31.80 on Friday. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The company’s 50-day moving average price is $31.58 and its 200 day moving average price is $32.49. The firm has a market cap of $159.00 billion, a P/E ratio of 16.14 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion for 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%. Cisco Systems’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.65%. Cisco Systems’s payout ratio is 58.29%.
COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://stocknewstimes.com/2017/08/06/cisco-systems-inc-nasdaqcsco-shares-sold-by-mork-capital-management-llc.html.
CSCO has been the topic of a number of recent research reports. Drexel Hamilton restated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, May 16th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research note on Wednesday, April 26th. Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target on shares of Cisco Systems in a research report on Monday, April 10th. One research 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 stock. The stock has an average rating of “Buy” and a consensus target price of $35.31.
In related news, 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 value of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John T. Chambers sold 295,537 shares of the business’s 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is owned by company 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).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
