Deltec Asset Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,246 shares of the network equipment provider’s stock after selling 1,000 shares during the period. Deltec Asset Management LLC’s holdings in Cisco Systems were worth $2,915,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Nicholas Co. Inc. WI raised its stake in Cisco Systems by 0.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,596,895 shares of the network equipment provider’s stock worth $78,478,000 after buying an additional 8,685 shares during the last quarter. Empirical Finance LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $1,145,000. Massmutual Trust Co. FSB ADV bought a new stake in Cisco Systems during the fourth quarter worth approximately $5,178,000. Iberiabank Corp raised its stake in Cisco Systems by 13.1% in the fourth quarter. Iberiabank Corp now owns 187,016 shares of the network equipment provider’s stock worth $5,652,000 after buying an additional 21,713 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Cisco Systems by 7.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 674,549 shares of the network equipment provider’s stock worth $20,385,000 after buying an additional 44,528 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.13% on Monday, reaching $31.84. The company had a trading volume of 11,877,405 shares. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company has a 50-day moving average of $31.58 and a 200 day moving average of $32.49. The stock has a market cap of $159.20 billion, a price-to-earnings ratio of 16.16 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period in the prior year, the firm posted $0.57 EPS. Cisco Systems’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.64%. Cisco Systems’s payout ratio is presently 58.29%.
A number of analysts recently commented on the company. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Drexel Hamilton reaffirmed a “buy” rating and set a $40.00 price objective 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 price target (down from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. Finally, Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.31.
In related news, SVP Karen Walker sold 7,802 shares of the 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 directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,179 shares of company stock valued at $12,503,407. 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).
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.
