Atlas Capital Advisors LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,200 shares of the network equipment provider’s stock after buying an additional 1,995 shares during the period. Atlas Capital Advisors LLC’s holdings in Cisco Systems were worth $559,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Cisco Systems in the second quarter valued at about $1,910,000. Lyell Wealth Management LP boosted its position in Cisco Systems by 4.2% in the second quarter. Lyell Wealth Management LP now owns 58,166 shares of the network equipment provider’s stock valued at $2,503,000 after buying an additional 2,350 shares in the last quarter. E&G Advisors LP raised its stake in shares of Cisco Systems by 14.7% in the second quarter. E&G Advisors LP now owns 17,935 shares of the network equipment provider’s stock worth $772,000 after acquiring an additional 2,300 shares during the last quarter. Telos Capital Management Inc. raised its stake in shares of Cisco Systems by 1.2% in the second quarter. Telos Capital Management Inc. now owns 173,205 shares of the network equipment provider’s stock worth $7,453,000 after acquiring an additional 2,131 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. raised its stake in shares of Cisco Systems by 17.7% in the second quarter. Pinnacle Financial Partners Inc. now owns 68,731 shares of the network equipment provider’s stock worth $2,958,000 after acquiring an additional 10,344 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.
In related news, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $47.28, for a total transaction of $10,279,617.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 31,842 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 450,620 shares of company stock valued at $21,322,282. 0.05% of the stock is currently owned by insiders.
CSCO opened at $47.52 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The company has a market cap of $234.37 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.87 and a beta of 1.07. Cisco Systems, Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. Cisco Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.
CSCO has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Cowen boosted their target price on shares of Cisco Systems from $51.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, August 16th. JPMorgan Chase & Co. set a $59.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Morgan Stanley dropped their target price on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, July 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $48.76.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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