Stone Ridge Asset Management LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 311,453 shares of the network equipment provider’s stock after buying an additional 53,365 shares during the quarter. Cisco Systems accounts for about 0.8% of Stone Ridge Asset Management LLC’s holdings, making the stock its 12th biggest position. Stone Ridge Asset Management LLC’s holdings in Cisco Systems were worth $15,153,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in CSCO. Franklin Street Advisors Inc. NC boosted its holdings in shares of Cisco Systems by 0.3% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 443,229 shares of the network equipment provider’s stock worth $21,563,000 after buying an additional 1,131 shares during the period. Hemenway Trust Co LLC boosted its holdings in shares of Cisco Systems by 1.0% during the 3rd quarter. Hemenway Trust Co LLC now owns 117,243 shares of the network equipment provider’s stock worth $5,704,000 after buying an additional 1,132 shares during the period. Willingdon Wealth Management boosted its holdings in shares of Cisco Systems by 1.5% during the 3rd quarter. Willingdon Wealth Management now owns 76,249 shares of the network equipment provider’s stock worth $3,710,000 after buying an additional 1,134 shares during the period. AMG National Trust Bank boosted its holdings in shares of Cisco Systems by 1.2% during the 3rd quarter. AMG National Trust Bank now owns 99,538 shares of the network equipment provider’s stock worth $4,843,000 after buying an additional 1,157 shares during the period. Finally, Forbes J M & Co. LLP boosted its holdings in shares of Cisco Systems by 0.5% during the 2nd quarter. Forbes J M & Co. LLP now owns 217,760 shares of the network equipment provider’s stock worth $9,370,000 after buying an additional 1,163 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Several analysts recently issued reports on CSCO shares. Argus reaffirmed a “buy” rating and set a $55.00 price objective on shares of Cisco Systems in a report on Tuesday, January 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a report on Thursday, November 15th. Deutsche Bank upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 15th. Credit Suisse Group set a $44.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a report on Wednesday, January 16th. Finally, Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Eight research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average price target of $51.05.
Shares of Cisco Systems stock traded up $0.11 during mid-day trading on Monday, reaching $47.30. 184,418 shares of the stock were exchanged, compared to its average volume of 18,139,974. The stock has a market capitalization of $227.34 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 2.76 and a beta of 1.16. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a fifty-two week low of $38.23 and a fifty-two week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, January 3rd. Cisco Systems’s dividend payout ratio is currently 56.41%.
In other Cisco Systems news, SVP Irving Tan sold 28,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the sale, the senior vice president now owns 188,853 shares of the company’s stock, valued at approximately $9,146,150.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 4,373 shares of the stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,067 shares of company stock worth $7,804,662. Insiders own 0.03% of the company’s stock.
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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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