Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,445,753 shares of the network equipment provider’s stock after buying an additional 506,489 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Cisco Systems were worth $555,867,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Barings LLC raised its stake in shares of Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock worth $7,687,000 after buying an additional 32,900 shares in the last quarter. Santa Barbara Asset Management LLC bought a new position in Cisco Systems during the fourth quarter worth $58,476,000. First Hawaiian Bank bought a new position in Cisco Systems during the first quarter worth $215,000. Dodge & Cox bought a new position in Cisco Systems during the fourth quarter worth $1,950,935,000. Finally, Hefty Wealth Partners raised its position in Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.553% during midday trading on Thursday, reaching $31.445. 3,415,432 shares of the company’s 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 $157.23 billion, a price-to-earnings ratio of 15.962 and a beta of 1.24. The firm has a 50-day moving average price of $31.57 and a 200 day moving average price of $32.53. Cisco Systems also was the target of unusually large options trading activity on Wednesday. Investors bought 21,024 call options on the stock. This is an increase of approximately 113% compared to the average daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. Cisco Systems’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. Analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is 58.29%.
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CSCO has been the topic of a number of recent research reports. Instinet reissued a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research note on Monday, July 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a research note on Wednesday, April 26th. Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Finally, Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $35.31.
In related news, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock valued at $12,503,407 in the last ninety days. 0.11% of the stock is currently owned by insiders.
Cisco Systems Company 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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