Forte Capital LLC ADV Boosts Stake in Cisco Systems, Inc. (CSCO)
Forte Capital LLC ADV lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,098 shares of the network equipment provider’s stock after acquiring an additional 4,220 shares during the quarter. Cisco Systems makes up 1.0% of Forte Capital LLC ADV’s portfolio, making the stock its 27th biggest holding. Forte Capital LLC ADV’s holdings in Cisco Systems were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service grew its stake in shares of Cisco Systems by 10.4% in the 2nd quarter. National Pension Service now owns 3,802,941 shares of the network equipment provider’s stock valued at $119,450,000 after buying an additional 357,161 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Cisco Systems by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 7,126 shares of the network equipment provider’s stock worth $223,000 after buying an additional 300 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Cisco Systems by 2.4% in the second quarter. Fisher Asset Management LLC now owns 16,076,117 shares of the network equipment provider’s stock worth $503,182,000 after buying an additional 382,211 shares during the last quarter. Trust Co. of Toledo NA OH increased its holdings in Cisco Systems by 7.0% in the second quarter. Trust Co. of Toledo NA OH now owns 96,292 shares of the network equipment provider’s stock worth $3,014,000 after buying an additional 6,295 shares during the last quarter. Finally, Cullinan Associates Inc. increased its holdings in Cisco Systems by 5.3% in the second quarter. Cullinan Associates Inc. now owns 364,395 shares of the network equipment provider’s stock worth $11,406,000 after buying an additional 18,495 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.
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In related news, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction on 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 approximately $17,719,369.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on 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 valued at $15,347,574 over the last quarter. Company insiders own 0.11% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.21% on Tuesday, reaching $33.82. The company’s stock had a trading volume of 5,896,863 shares. The firm’s 50 day moving average is $32.18 and its 200-day moving average is $32.36. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $167.48 billion, a P/E ratio of 17.80 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
CSCO has been the topic of several recent research reports. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research report on Wednesday, September 6th. Zacks Investment Research raised 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 note on Monday, August 28th. Credit Suisse Group restated an “outperform” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Finally, Deutsche Bank AG restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Wednesday, September 6th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $35.50.
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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