Cisco Systems, Inc. (CSCO) Stake Boosted by Richard Bernstein Advisors LLC
Richard Bernstein Advisors LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,441 shares of the network equipment provider’s stock after acquiring an additional 47,211 shares during the period. Richard Bernstein Advisors LLC’s holdings in Cisco Systems were worth $8,434,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Bristol Gate Capital Partners Inc. grew its holdings in shares of Cisco Systems by 11.9% in the second quarter. Bristol Gate Capital Partners Inc. now owns 952,632 shares of the network equipment provider’s stock valued at $29,817,000 after acquiring an additional 101,469 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Cisco Systems by 68.8% in the second quarter. Annex Advisory Services LLC now owns 27,040 shares of the network equipment provider’s stock valued at $846,000 after acquiring an additional 11,025 shares in the last quarter. Everence Capital Management Inc. grew its holdings in shares of Cisco Systems by 5.8% in the second quarter. Everence Capital Management Inc. now owns 98,575 shares of the network equipment provider’s stock valued at $3,085,000 after acquiring an additional 5,400 shares in the last quarter. Financial Advisors Network Inc. grew its holdings in shares of Cisco Systems by 1.7% in the second quarter. Financial Advisors Network Inc. now owns 15,146 shares of the network equipment provider’s stock valued at $474,000 after acquiring an additional 247 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Cisco Systems by 1.3% in the second quarter. HM Payson & Co. now owns 923,146 shares of the network equipment provider’s stock valued at $28,895,000 after acquiring an additional 12,244 shares in the last quarter. 75.22% of the stock is owned by institutional investors.
Cisco Systems, Inc. (CSCO) opened at $35.90 on Friday. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $36.67. The stock has a market capitalization of $177,768.98, a PE ratio of 16.54, a PEG ratio of 3.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 2.87.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.16 EPS for the current fiscal year.
The business also recently disclosed 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 of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
Several equities analysts have recently issued reports on the company. Argus upped their target price on Cisco Systems from $41.00 to $44.00 and gave the company a “buy” rating in a report on Friday. Cowen and Company reiterated a “buy” rating on shares of Cisco Systems in a research note on Friday. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price objective on the stock. in a research note on Friday. MKM Partners upped their price objective on Cisco Systems to $38.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.67.
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In other news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 over the last ninety days. Insiders own 0.05% 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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