Community Financial Services Group LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 230,375 shares of the network equipment provider’s stock after selling 1,426 shares during the period. Cisco Systems makes up 3.5% of Community Financial Services Group LLC’s portfolio, making the stock its 5th largest position. Community Financial Services Group LLC’s holdings in Cisco Systems were worth $7,786,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Southeast Asset Advisors Inc. raised its position in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after buying an additional 44 shares in the last quarter. Farmers National Bank raised its position in shares of Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after buying an additional 83 shares in the last quarter. Financial Advisory Service Inc. raised its position in shares of Cisco Systems by 0.8% in the first quarter. Financial Advisory Service Inc. now owns 13,610 shares of the network equipment provider’s stock valued at $460,000 after buying an additional 114 shares in the last quarter. Commonwealth Financial Services LLC raised its position in shares of Cisco Systems by 1.2% in the first quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock valued at $339,000 after buying an additional 118 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position in shares of Cisco Systems by 0.3% in the first quarter. NEXT Financial Group Inc now owns 43,598 shares of the network equipment provider’s stock valued at $1,485,000 after buying an additional 126 shares in the last quarter. 75.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.47% during trading on Tuesday, hitting $31.99. 6,551,921 shares of the stock traded hands. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a 50-day moving average of $31.53 and a 200 day moving average of $32.56. The company has a market cap of $159.95 billion, a P/E ratio of 16.24 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. Cisco Systems’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 58.29%.
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Several brokerages recently weighed in on CSCO. Citigroup Inc. set a $36.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Friday, May 19th. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Drexel Hamilton reiterated a “buy” rating and issued a $39.00 target price on shares of Cisco Systems in a report on Tuesday. Finally, Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $35.31.
In related news, insider John T. Chambers sold 295,537 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock worth $12,503,407 over the last ninety 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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