Cisco Systems, Inc. (NASDAQ:CSCO) Position Boosted by BTIM Corp.
BTIM Corp. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,507,442 shares of the network equipment provider’s stock after buying an additional 19,841 shares during the period. BTIM Corp.’s holdings in Cisco Systems were worth $47,183,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Dodge & Cox purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth about $1,306,395,000. Boston Partners boosted its stake in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock worth $768,153,000 after buying an additional 1,365,708 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Cisco Systems by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 16,445,753 shares of the network equipment provider’s stock worth $555,867,000 after buying an additional 506,489 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 1.52% on Friday, hitting $31.47. 20,756,566 shares of the stock were exchanged. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The company has a market cap of $157.35 billion, a price-to-earnings ratio of 15.97 and a beta of 1.24. The company has a 50 day moving average of $31.54 and a 200 day moving average of $32.53. Cisco Systems also was the recipient of some unusual options trading on Wednesday. Stock traders acquired 21,024 call options on the company. This is an increase of approximately 113% compared to the average daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.
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CSCO has been the subject of a number of research reports. Instinet restated a “neutral” rating and set a $29.00 target price on shares of Cisco Systems in a research note on Monday, July 3rd. J P Morgan Chase & Co restated a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price for the company. in a research note on Wednesday, April 26th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $33.45 to $39.00 in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.31.
In other news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,179 shares of company stock valued at $12,503,407. Insiders own 0.11% of the company’s stock.
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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