Cisco Systems, Inc. (CSCO) Position Lifted by Rossmore Private Capital

Rossmore Private Capital increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 25.1% during the 2nd quarter, Holdings Channel reports. The fund owned 22,061 shares of the network equipment provider’s stock after buying an additional 4,433 shares during the quarter. Rossmore Private Capital’s holdings in Cisco Systems were worth $949,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its holdings in Cisco Systems by 1.4% during the 1st quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock worth $3,350,000 after buying an additional 1,106 shares during the period. Stellar Capital Management LLC raised its holdings in shares of Cisco Systems by 3.4% in the first quarter. Stellar Capital Management LLC now owns 33,236 shares of the network equipment provider’s stock valued at $1,426,000 after purchasing an additional 1,107 shares during the last quarter. FCG Advisors LLC raised its holdings in shares of Cisco Systems by 7.9% in the first quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock valued at $668,000 after purchasing an additional 1,140 shares during the last quarter. Neumann Capital Management LLC raised its holdings in shares of Cisco Systems by 6.8% in the first quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock valued at $791,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Ballast Inc. raised its holdings in shares of Cisco Systems by 6.6% in the first quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock valued at $807,000 after purchasing an additional 1,172 shares during the last quarter. 71.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of CSCO opened at $48.56 on Friday. The firm has a market cap of $229.94 billion, a P/E ratio of 20.06, a PEG ratio of 2.82 and a beta of 1.06. Cisco Systems, Inc. has a 1-year low of $32.64 and a 1-year high of $48.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.

In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the completion of the transaction, the executive vice president now directly owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Irving Tan sold 68,308 shares of Cisco Systems stock in a transaction on Friday, September 14th. The stock was sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the transaction, the senior vice president now directly owns 150,763 shares of the company’s stock, valued at $7,143,150.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 450,620 shares of company stock valued at $21,322,282. Company insiders own 0.05% of the company’s stock.

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Cisco Systems from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, September 4th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Tuesday, September 11th. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Loop Capital reiterated a “hold” rating and issued a $47.00 price objective on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their price objective on shares of Cisco Systems from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.76.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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