Ray Gerald L & Associates Ltd. Trims Stake in Cisco Systems, Inc. (CSCO)
Ray Gerald L & Associates Ltd. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 131,271 shares of the network equipment provider’s stock after selling 2,452 shares during the quarter. Ray Gerald L & Associates Ltd.’s holdings in Cisco Systems were worth $4,415,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Richard Bernstein Advisors LLC grew its stake in shares of Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock valued at $8,434,000 after buying an additional 47,211 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after buying an additional 14,395 shares during the period. Eads & Heald Investment Counsel grew its stake in shares of Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after buying an additional 5,765 shares during the period. Aviva PLC boosted its stake in Cisco Systems by 6.5% during the 2nd quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock valued at $149,343,000 after purchasing an additional 289,899 shares during the last quarter. Finally, Callahan Advisors LLC boosted its stake in Cisco Systems by 0.3% during the 2nd quarter. Callahan Advisors LLC now owns 256,794 shares of the network equipment provider’s stock valued at $8,038,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.
Cisco Systems, Inc. (CSCO) opened at $40.87 on Friday. Cisco Systems, Inc. has a 1 year low of $29.84 and a 1 year high of $40.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The company has a market cap of $202,045.83, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 3.70 and a beta of 1.20.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm earned $0.61 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio is currently 60.10%.
A number of equities analysts have issued reports on CSCO shares. Royal Bank of Canada reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Wednesday, November 15th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target for the company. in a research note on Monday, September 25th. BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. BMO Capital Markets reiterated a “hold” rating and set a $32.00 price target on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $35.00 price target on shares of Cisco Systems in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $37.93.
In related news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of Cisco Systems stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.
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Cisco Systems 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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