Cisco Systems, Inc. (CSCO) Position Cut by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,700 shares of the network equipment provider’s stock after selling 1,955 shares during the period. Beck Mack & Oliver LLC’s holdings in Cisco Systems were worth $679,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners grew its position in shares of Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after acquiring an additional 23,002,159 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Cisco Systems during the first quarter worth about $109,564,000. Acadian Asset Management LLC grew its position in shares of Cisco Systems by 202.3% during the second quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock worth $87,922,000 after acquiring an additional 1,879,688 shares during the last quarter. Mondrian Investment Partners LTD bought a new position in shares of Cisco Systems during the first quarter worth about $60,047,000. Finally, Locust Wood Capital Advisers LLC bought a new position in shares of Cisco Systems during the second quarter worth about $31,483,000. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
CSCO has been the subject of several recent research reports. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Monday, June 26th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Wednesday, September 6th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.38.
Cisco Systems, Inc. (CSCO) opened at 33.75 on Friday. The company has a 50-day moving average price of $32.39 and a 200-day moving average price of $32.37. The firm has a market cap of $167.13 billion, a P/E ratio of 17.76 and a beta of 1.21. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. On average, analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock worth $15,347,574 in the last ninety days. Insiders own 0.11% of the company’s stock.
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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