Palisades Hudson Asset Management L.P. Holds Position in Cisco Systems, Inc. (CSCO)
Palisades Hudson Asset Management L.P. held its stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,406 shares of the network equipment provider’s stock at the close of the 2nd quarter. Palisades Hudson Asset Management L.P.’s holdings in Cisco Systems were worth $232,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Texas Yale Capital Corp. increased its holdings in Cisco Systems by 5.6% during the second quarter. Texas Yale Capital Corp. now owns 30,535 shares of the network equipment provider’s stock valued at $956,000 after buying an additional 1,625 shares during the last quarter. Windsor Financial Group LLC increased its holdings in Cisco Systems by 0.4% during the second quarter. Windsor Financial Group LLC now owns 134,634 shares of the network equipment provider’s stock valued at $4,214,000 after buying an additional 565 shares during the last quarter. First Personal Financial Services increased its holdings in Cisco Systems by 8.6% during the second quarter. First Personal Financial Services now owns 136,043 shares of the network equipment provider’s stock valued at $4,258,000 after buying an additional 10,740 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in Cisco Systems by 45.4% during the second quarter. Beacon Investment Advisory Services Inc. now owns 26,301 shares of the network equipment provider’s stock valued at $823,000 after buying an additional 8,218 shares during the last quarter. Finally, Bridgewater Wealth & Financial Management LLC purchased a new stake in Cisco Systems during the second quarter valued at approximately $273,000. 75.22% of the stock is owned by institutional investors and hedge funds.
Cisco Systems, Inc. (CSCO) opened at $35.88 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The company has a market cap of $168,905.28, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $36.67.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.67%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. equities research analysts expect that Cisco Systems, Inc. will post 2.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.
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In other news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 over the last 90 days. Company insiders own 0.05% of the company’s stock.
A number of analysts have commented on CSCO shares. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price for the company in a report on Wednesday, September 6th. ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Deutsche Bank AG reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Wednesday, September 6th. Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 31st. Finally, Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have given a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $36.43.
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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