North Star Asset Management Inc. Has $2.98 Million Position in Cisco Systems, Inc. (CSCO)
North Star Asset Management Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 88,092 shares of the network equipment provider’s stock after selling 1,266 shares during the period. North Star Asset Management Inc.’s holdings in Cisco Systems were worth $2,978,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Financial Management Professionals Inc. raised its stake in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Cisco Systems during the fourth quarter valued at about $128,000. Jackson Grant Investment Advisers Inc. raised its stake in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after buying an additional 560 shares during the last quarter. Finally, Baystate Wealth Management LLC increased its stake in shares of Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after buying an additional 1,484 shares during the last quarter. 75.28% of the stock is owned by institutional investors and hedge funds.
Cisco Systems, Inc. (CSCO) traded up 0.50% during trading on Tuesday, hitting $32.00. The company’s stock had a trading volume of 6,546,338 shares. The company has a 50-day moving average of $31.53 and a 200 day moving average of $32.56. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $160.00 billion, a PE ratio of 16.24 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The firm also recently announced 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. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
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CSCO has been the topic of several recent analyst reports. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a report on Wednesday, April 26th. Finally, Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $35.31.
In other news, insider John T. Chambers sold 295,537 shares of the 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 available at the SEC website. Also, SVP Karen Walker sold 7,802 shares of the 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 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 396,179 shares of company stock valued at $12,503,407 in the last quarter. 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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