Hall Laurie J Trustee lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 61.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,857 shares of the network equipment provider’s stock after acquiring an additional 8,334 shares during the quarter. Hall Laurie J Trustee’s holdings in Cisco Systems were worth $940,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. JJJ Advisors Inc. acquired a new stake in shares of Cisco Systems in the second quarter worth $110,000. Trustcore Financial Services LLC boosted its position in shares of Cisco Systems by 143.5% in the first quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after buying an additional 1,941 shares during the period. Smart Portfolios LLC acquired a new stake in shares of Cisco Systems in the first quarter worth $146,000. Legacy Advisors LLC boosted its position in shares of Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after buying an additional 2,940 shares during the period. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Cisco Systems in the first quarter worth $149,000. 71.44% of the stock is owned by institutional investors and hedge funds.
In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the transaction, the executive vice president now directly owns 547,019 shares in the company, valued at $26,021,693.83. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles Robbins sold 217,420 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,620 shares of company stock valued at $21,322,282. Insiders own 0.05% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s payout ratio is 56.41%.
Several analysts have recently commented on the company. Piper Jaffray Companies set a $53.00 target price on Cisco Systems and gave the stock an “overweight” rating in a research report on Monday, October 1st. Credit Suisse Group raised their target price on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, BMO Capital Markets raised their target price on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday, August 16th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $48.76.
About Cisco Systems
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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