Cutler Investment Counsel LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the network equipment provider’s stock, valued at approximately $202,000.
A number of other hedge funds have also made changes to their positions in the business. Chartwell Investment Partners LLC lifted its position in shares of Cisco Systems by 3.2% during the third quarter. Chartwell Investment Partners LLC now owns 525,200 shares of the network equipment provider’s stock worth $17,662,000 after purchasing an additional 16,255 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in Cisco Systems by 48.5% during the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 21,440 shares of the network equipment provider’s stock valued at $721,000 after purchasing an additional 7,005 shares during the last quarter. Regal Investment Advisors LLC increased its stake in Cisco Systems by 29.0% during the third quarter. Regal Investment Advisors LLC now owns 14,678 shares of the network equipment provider’s stock valued at $494,000 after purchasing an additional 3,296 shares during the last quarter. Waldron LP increased its stake in Cisco Systems by 53.6% during the third quarter. Waldron LP now owns 15,437 shares of the network equipment provider’s stock valued at $519,000 after purchasing an additional 5,387 shares during the last quarter. Finally, Keystone Financial Planning Inc. increased its stake in Cisco Systems by 2.4% during the third quarter. Keystone Financial Planning Inc. now owns 198,973 shares of the network equipment provider’s stock valued at $6,691,000 after purchasing an additional 4,628 shares during the last quarter. 75.64% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on CSCO. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 target price for the company in a research note on Monday. Goldman Sachs Group assumed coverage on shares of Cisco Systems in a research report on Wednesday. They set a “buy” rating and a $48.00 price target for the company. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Loop Capital initiated coverage on shares of Cisco Systems in a report on Monday, January 29th. They issued a “hold” rating and a $45.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $39.54.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up $0.76 during mid-day trading on Friday, reaching $39.53. The company had a trading volume of 47,947,702 shares, compared to its average volume of 27,140,000. The company has a market capitalization of $195,420.00, a PE ratio of 20.48, a P/E/G ratio of 3.55 and a beta of 1.23. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $42.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $0.61 earnings per share. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. research analysts anticipate that Cisco Systems, Inc. will post 2.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.93%. Cisco Systems’s dividend payout ratio is currently 60.10%.
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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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