Notis McConarty Edward decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,650 shares of the network equipment provider's stock after selling 1,680 shares during the period. Notis McConarty Edward's holdings in Cisco Systems were worth $923,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CSCO. Cordant Inc. purchased a new position in shares of Cisco Systems during the first quarter worth approximately $28,000. Advanced Research Investment Solutions LLC increased its position in shares of Cisco Systems by 564.6% during the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider's stock worth $30,000 after acquiring an additional 463 shares during the period. Conrad Siegel Investment Advisors Inc. purchased a new position in shares of Cisco Systems during the first quarter worth approximately $33,000. Johnson Midwest Financial LLC increased its position in shares of Cisco Systems by 189.7% during the second quarter. Johnson Midwest Financial LLC now owns 678 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 444 shares during the period. Finally, PYA Waltman Capital LLC increased its position in shares of Cisco Systems by 445.4% during the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider's stock worth $43,000 after acquiring an additional 628 shares during the period. Institutional investors own 71.71% of the company's stock.
Get
Cisco Systems alerts:
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and set a $51.00 price objective (down from $62.00) on shares of Cisco Systems in a report on Thursday, July 14th. Piper Sandler lifted their price objective on shares of Cisco Systems from $43.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, August 18th. The Goldman Sachs Group lifted their price objective on shares of Cisco Systems from $45.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, August 18th. Barclays lowered shares of Cisco Systems from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $56.00 to $46.00 in a report on Wednesday, September 21st. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.68.
Cisco Systems Trading Down 0.1 %
Shares of Cisco Systems stock opened at $40.52 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. The firm has a fifty day moving average price of $44.95 and a 200 day moving average price of $47.17. Cisco Systems, Inc. has a 1 year low of $40.12 and a 1 year high of $64.29. The stock has a market cap of $166.49 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96.
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The firm had revenue of $13.10 billion during the quarter, compared to analysts' expectations of $12.78 billion. During the same quarter last year, the company posted $0.76 earnings per share. The firm's revenue was down .2% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.
Cisco Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.75%. Cisco Systems's payout ratio is 53.90%.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, SVP Prat Bhatt sold 3,453 shares of Cisco Systems stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total value of $167,090.67. Following the completion of the transaction, the senior vice president now owns 75,443 shares of the company's stock, valued at $3,650,686.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jeffery S. Sharritts sold 12,838 shares of the business's stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $47.86, for a total transaction of $614,426.68. Following the completion of the sale, the executive vice president now owns 167,532 shares of the company's stock, valued at $8,018,081.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 3,453 shares of the business's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total transaction of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares of the company's stock, valued at approximately $3,650,686.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,317 shares of company stock valued at $2,612,042. Corporate insiders own 0.02% of the company's stock.
About Cisco Systems
(Get Rating)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
See Also
- Get a free copy of the StockNews.com research report on Cisco Systems (CSCO)
- Defensive Stocks For A Volatile Market
- SunPower Is Ready To Power Up Triple-Digit Earnings Gains
- Will UPS Be Next to Deliver a Warning?
- Is This the Darkest Before the Dawn for Gap Stock?
- Build A Better Tech Portfolio With Jabil Inc.
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.
