Jupiter Asset Management Ltd. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,365,127 shares of the network equipment provider’s stock after buying an additional 325,306 shares during the period. Cisco Systems makes up 8.3% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its largest position. Jupiter Asset Management Ltd. owned approximately 0.15% of Cisco Systems worth $222,574,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in Cisco Systems by 7.6% in the second quarter. Stifel Financial Corp now owns 8,537,721 shares of the network equipment provider’s stock valued at $244,948,000 after buying an additional 603,412 shares in the last quarter. Yellowstone Partners LLC raised its stake in Cisco Systems by 5.7% in the second quarter. Yellowstone Partners LLC now owns 19,551 shares of the network equipment provider’s stock valued at $561,000 after buying an additional 1,047 shares in the last quarter. Cypress Capital Group raised its stake in Cisco Systems by 8.3% in the second quarter. Cypress Capital Group now owns 44,070 shares of the network equipment provider’s stock valued at $1,264,000 after buying an additional 3,360 shares in the last quarter. Bellwether Investment Group LLC purchased a new stake in Cisco Systems during the second quarter valued at about $232,000. Finally, S. R. Schill & Associates purchased a new stake in Cisco Systems during the second quarter valued at about $207,000. Institutional investors own 75.24% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.15% during midday trading on Monday, hitting $33.75. The stock had a trading volume of 3,239,757 shares. Cisco Systems, Inc. has a 52 week low of $25.81 and a 52 week high of $34.53. The stock has a 50-day moving average of $33.51 and a 200-day moving average of $31.35. The firm has a market cap of $169.02 billion, a P/E ratio of 17.40 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $11.60 billion for the quarter, compared to analyst estimates of $11.55 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. During the same quarter in the prior year, the company earned $0.57 earnings per share. Analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be paid a $0.29 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 annualized dividend and a yield of 3.43%. Cisco Systems’s dividend payout ratio is currently 49.52%.
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Several equities research analysts have weighed in on CSCO shares. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Friday, February 17th. Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Wednesday, January 25th. Wells Fargo & Co reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Saturday, January 28th. Vetr lowered Cisco Systems from a “hold” rating to a “sell” rating and set a $31.80 target price on the stock. in a research report on Thursday, February 16th. Finally, OTR Global raised Cisco Systems from a “mixed” rating to a “positive” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $34.14.
In other Cisco Systems news, insider John T. Chambers sold 295,538 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $34.06, for a total value of $10,066,024.28. Following the sale, the insider now owns 1,220,581 shares in the company, valued at $41,572,988.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. West acquired 3,027 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was acquired at an average price of $33.92 per share, for a total transaction of $102,675.84. Following the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $125,504. The disclosure for this purchase can be found here. Insiders sold 371,807 shares of company stock worth $12,668,893 in the last 90 days. Corporate 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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