Cisco Systems, Inc. (CSCO) Holdings Held by Lathrop Investment Management Corp
Lathrop Investment Management Corp held its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 404,265 shares of the network equipment provider’s stock at the close of the 2nd quarter. Cisco Systems comprises approximately 4.0% of Lathrop Investment Management Corp’s portfolio, making the stock its 11th biggest holding. Lathrop Investment Management Corp’s holdings in Cisco Systems were worth $13,664,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. First Command Financial Services Inc. grew its stake in Cisco Systems by 1.5% during the 1st quarter. First Command Financial Services Inc. now owns 11,187 shares of the network equipment provider’s stock valued at $378,000 after acquiring an additional 166 shares in the last quarter. Visionary Asset Management Inc. grew its stake in Cisco Systems by 3.4% during the 1st quarter. Visionary Asset Management Inc. now owns 110,547 shares of the network equipment provider’s stock valued at $3,736,000 after acquiring an additional 3,654 shares in the last quarter. Guild Investment Management Inc. purchased a new stake in Cisco Systems during the 1st quarter valued at about $3,798,000. Winslow Evans & Crocker Inc. grew its stake in Cisco Systems by 2.2% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 35,754 shares of the network equipment provider’s stock valued at $1,208,000 after acquiring an additional 780 shares in the last quarter. Finally, American National Bank grew its stake in Cisco Systems by 3.8% during the 1st quarter. American National Bank now owns 196,107 shares of the network equipment provider’s stock valued at $6,628,000 after acquiring an additional 7,244 shares in the last quarter. 75.37% of the stock is owned by institutional investors.
In related news, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares in the company, valued at $17,719,369.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 485,138 shares of company stock valued at $15,347,574. Insiders own 0.11% of the company’s stock.
CSCO has been the subject of several research reports. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Drexel Hamilton reaffirmed a “buy” rating and set a $39.00 price objective on shares of Cisco Systems in a research note on Sunday, June 25th. Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday, June 13th. Morgan Stanley set a $39.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, May 29th. Finally, Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.57.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 2.05% during mid-day trading on Friday, reaching $33.37. 28,234,858 shares of the company were exchanged. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market capitalization of $165.25 billion, a price-to-earnings ratio of 17.56 and a beta of 1.19. The company’s 50-day moving average is $31.72 and its 200 day moving average is $32.41.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Analysts predict that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
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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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