Wade G W & Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,337 shares of the network equipment provider’s stock after acquiring an additional 7,811 shares during the quarter. Wade G W & Inc.’s holdings in Cisco Systems were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after purchasing an additional 13,927,416 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Cisco Systems by 91.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock worth $746,806,000 after purchasing an additional 9,292,187 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Cisco Systems by 5,651.3% in the fourth quarter. Mackenzie Financial Corp now owns 4,910,280 shares of the network equipment provider’s stock worth $188,064,000 after purchasing an additional 4,824,903 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cisco Systems by 565.8% in the first quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock worth $194,382,000 after purchasing an additional 3,851,446 shares during the period. Finally, Swedbank increased its holdings in shares of Cisco Systems by 43.5% in the fourth quarter. Swedbank now owns 12,425,302 shares of the network equipment provider’s stock worth $475,889,000 after purchasing an additional 3,768,806 shares during the period. 73.80% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems opened at $42.67 on Wednesday, according to MarketBeat. The company has a quick ratio of 2.28, a current ratio of 2.34 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $46.37. The stock has a market cap of $206.24 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The business had revenue of $12.46 billion during the quarter, compared to analyst estimates of $12.42 billion. During the same period in the prior year, the business posted $0.60 earnings per share. sell-side analysts predict that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.32 annualized dividend and a yield of 3.09%. Cisco Systems’s payout ratio is 61.40%.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Credit Suisse Group assumed coverage on shares of Cisco Systems in a report on Wednesday, May 9th. They issued a “neutral” rating and a $41.00 price target on the stock. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $45.60 price target on the stock. in a report on Monday, March 26th. Argus upped their price target on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, Macquarie assumed coverage on shares of Cisco Systems in a report on Monday, April 30th. They issued an “outperform” rating on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.56.
In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares in the company, valued at $21,222,117.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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