IFC Holdings Incorporated FL Grows Stake in Cisco Systems, Inc. (CSCO)
IFC Holdings Incorporated FL raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,019 shares of the network equipment provider’s stock after purchasing an additional 8,639 shares during the quarter. IFC Holdings Incorporated FL’s holdings in Cisco Systems were worth $1,688,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CSCO. Boston Partners raised its holdings in shares of Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Cisco Systems by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 17,004,668 shares of the network equipment provider’s stock valued at $532,247,000 after buying an additional 558,915 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Cisco Systems by 2.4% during the 2nd quarter. Fisher Asset Management LLC now owns 16,076,117 shares of the network equipment provider’s stock valued at $503,182,000 after buying an additional 382,211 shares during the period. First Trust Advisors LP raised its holdings in shares of Cisco Systems by 5.9% during the 2nd quarter. First Trust Advisors LP now owns 9,856,118 shares of the network equipment provider’s stock valued at $308,496,000 after buying an additional 546,492 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Cisco Systems by 4.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 9,852,762 shares of the network equipment provider’s stock valued at $307,899,000 after buying an additional 417,886 shares during the period. Institutional investors own 75.22% of the company’s stock.
CSCO has been the topic of several analyst reports. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price on the stock in a report on Wednesday, September 6th. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Deutsche Bank AG reiterated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a report on Wednesday, September 6th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.26.
In other news, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 in the last three months. Company insiders own 0.05% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at $34.41 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. The firm has a market capitalization of $170,687.92, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 3.01 and a beta of 1.15. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.75.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. equities research analysts expect that Cisco Systems, Inc. will post 2.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
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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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