Ferguson Wellman Capital Management Inc. Purchases 129,991 Shares of Cisco Systems, Inc. (CSCO)

Ferguson Wellman Capital Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,984,100 shares of the network equipment provider’s stock after acquiring an additional 129,991 shares during the period. Cisco Systems comprises about 2.3% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Cisco Systems were worth $62,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Park Avenue Securities LLC bought a new stake in Cisco Systems during the 2nd quarter worth $742,000. Steinberg Global Asset Management grew its position in Cisco Systems by 26.6% during the 2nd quarter. Steinberg Global Asset Management now owns 33,702 shares of the network equipment provider’s stock worth $1,055,000 after acquiring an additional 7,090 shares during the last quarter. Cubic Asset Management LLC grew its position in Cisco Systems by 4.5% during the 2nd quarter. Cubic Asset Management LLC now owns 49,306 shares of the network equipment provider’s stock worth $1,543,000 after acquiring an additional 2,130 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in Cisco Systems by 1.2% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 27,784 shares of the network equipment provider’s stock worth $870,000 after acquiring an additional 325 shares during the last quarter. Finally, FineMark National Bank & Trust grew its position in Cisco Systems by 8.2% during the 2nd quarter. FineMark National Bank & Trust now owns 442,597 shares of the network equipment provider’s stock worth $13,853,000 after acquiring an additional 33,605 shares during the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.

In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Karen Walker sold 23,110 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the sale, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 485,138 shares of company stock valued at $15,347,574. 0.11% of the stock is owned by company insiders.

A number of brokerages recently weighed in on CSCO. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Monday, June 26th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research report on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research report on Monday, September 11th. Drexel Hamilton restated a “buy” rating and set a $39.00 price objective on shares of Cisco Systems in a research report on Sunday, June 25th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Thursday, August 17th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $35.38.

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Cisco Systems, Inc. (CSCO) opened at 33.55 on Wednesday. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The stock has a 50 day moving average price of $32.57 and a 200 day moving average price of $32.34. The company has a market capitalization of $166.14 billion, a price-to-earnings ratio of 17.66 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.46%. Cisco Systems’s payout ratio is currently 60.73%.

Cisco Systems 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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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