Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,900 shares of the network equipment provider’s stock after buying an additional 2,400 shares during the period. Spirit of America Management Corp NY’s holdings in Cisco Systems were worth $905,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of CSCO. Barings LLC boosted its position in shares of Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock valued at $7,687,000 after buying an additional 32,900 shares in the last quarter. Santa Barbara Asset Management LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $58,476,000. Asset Management Group Inc. raised its position in Cisco Systems by 0.8% in the fourth quarter. Asset Management Group Inc. now owns 13,196 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 107 shares during the last quarter. First Hawaiian Bank acquired a new position in Cisco Systems during the first quarter valued at approximately $215,000. Finally, Seven Eight Capital LP acquired a new position in Cisco Systems during the fourth quarter valued at approximately $112,000. 75.28% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems, Inc. (NASDAQ CSCO) traded down 2.16% during mid-day trading on Friday, hitting $30.37. The stock had a trading volume of 34,802,193 shares. The firm’s 50-day moving average price is $31.48 and its 200 day moving average price is $32.55. The company has a market cap of $151.64 billion, a PE ratio of 15.98 and a beta of 1.24. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the business posted $0.63 EPS. Cisco Systems’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 60.73%.

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CSCO has been the subject of several analyst reports. BMO Capital Markets downgraded Cisco Systems from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $37.00 to $35.00 in a research report on Tuesday, May 9th. Drexel Hamilton restated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday, May 16th. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a report on Monday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 price target (down from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. Finally, Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. Fourteen analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.46.

In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock worth $12,503,407 in the last ninety days. 0.11% of the stock is owned by corporate insiders.

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).

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

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