Cisco Systems, Inc. (CSCO) Holdings Raised by Ballentine Partners LLC
Ballentine Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,371 shares of the network equipment provider’s stock after acquiring an additional 10,828 shares during the period. Ballentine Partners LLC’s holdings in Cisco Systems were worth $1,616,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Barnett & Company Inc. grew its holdings in Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares in the last quarter. Grove Bank & Trust grew its holdings in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. purchased a new stake in Cisco Systems during the 1st quarter valued at approximately $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Cisco Systems by 15.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after buying an additional 560 shares in the last quarter. Institutional investors own 75.22% of the company’s stock.
A number of brokerages have issued reports on CSCO. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective for the company in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a report on Monday, September 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Thursday, August 17th. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a report on Thursday, August 17th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Cisco Systems in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $35.31.
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In other news, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 in the last 90 days. Insiders own 0.05% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $34.04 on Wednesday. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.75. The firm has a market capitalization of $168,113.00, a PE ratio of 15.65, a PEG ratio of 2.97 and a beta of 1.15. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. research analysts forecast that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. Cisco Systems’s payout ratio is 60.73%.
About Cisco Systems
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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