Sage Capital Advisors llc Buys Shares of 6,750 Cisco Systems, Inc. (CSCO)
Sage Capital Advisors llc bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,750 shares of the network equipment provider’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. Beach Investment Management LLC. acquired a new stake in Cisco Systems in the second quarter worth $1,030,000. New Jersey Better Educational Savings Trust increased its position in Cisco Systems by 8.3% in the second quarter. New Jersey Better Educational Savings Trust now owns 26,000 shares of the network equipment provider’s stock worth $814,000 after buying an additional 2,000 shares during the period. National Planning Corp increased its position in Cisco Systems by 0.5% in the second quarter. National Planning Corp now owns 50,790 shares of the network equipment provider’s stock worth $1,591,000 after buying an additional 228 shares during the period. Partnervest Advisory Services LLC increased its position in Cisco Systems by 12.6% in the second quarter. Partnervest Advisory Services LLC now owns 16,689 shares of the network equipment provider’s stock worth $522,000 after buying an additional 1,861 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Cisco Systems by 2.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 29,620 shares of the network equipment provider’s stock worth $927,000 after buying an additional 573 shares during the period. 75.06% of the stock is currently owned by hedge funds and other institutional investors.
CSCO has been the subject of several recent analyst reports. Barclays increased their price target on Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price target for the company. in a research note on Friday, November 17th. Cowen reissued a “buy” rating on shares of Cisco Systems in a research note on Friday, November 17th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, Deutsche Bank reissued a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a research note on Thursday, November 16th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $44.02.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. During the same quarter last year, the company posted $0.57 EPS. research analysts expect that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a $0.33 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.00%. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
Cisco Systems announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In related news, Director M Michele Burns sold 12,126 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now owns 74,479 shares in the company, valued at approximately $3,379,112.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 116,566 shares of company stock valued at $4,636,938 in the last quarter. 0.05% of the stock is currently owned by corporate insiders.
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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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