Xact Kapitalforvaltning AB increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 831,972 shares of the network equipment provider’s stock after buying an additional 26,987 shares during the period. Cisco Systems accounts for approximately 0.9% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 21st largest position. Xact Kapitalforvaltning AB’s holdings in Cisco Systems were worth $28,121,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management Group Inc. raised its position in shares of 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 period. Commonwealth Financial Services LLC increased its stake in Cisco Systems by 1.2% in the first quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock valued at $339,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. increased its stake in Cisco Systems by 0.4% in the first quarter. Blue Fin Capital Inc. now owns 31,073 shares of the network equipment provider’s stock valued at $1,050,000 after buying an additional 130 shares in the last quarter. Madrona Financial Services LLC increased its stake in Cisco Systems by 2.1% in the first quarter. Madrona Financial Services LLC now owns 7,407 shares of the network equipment provider’s stock valued at $250,000 after buying an additional 153 shares in the last quarter. Finally, Dynamic Advisors Solutions LLC increased its stake in Cisco Systems by 0.8% in the first quarter. Dynamic Advisors Solutions LLC now owns 21,553 shares of the network equipment provider’s stock valued at $729,000 after buying an additional 162 shares in the last quarter. Institutional investors own 75.28% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) traded down 2.16% during midday trading on Friday, reaching $30.37. 34,802,193 shares of the company traded hands. The firm has a market capitalization of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The company has a 50 day moving average of $31.48 and a 200 day moving average of $32.55. Cisco Systems also was the target of some unusual options trading on Tuesday. Stock traders purchased 24,568 put options on the company. This is an increase of 223% compared to the typical volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 17.04% and a net margin of 20.02%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.82%. Cisco Systems’s dividend payout ratio is currently 60.73%.
CSCO has been the subject of several research analyst reports. Barclays PLC reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Wednesday, April 26th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research note on Wednesday, April 26th. Credit Suisse Group raised shares of Cisco Systems from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $35.38.
In other news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated 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 owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock valued at $12,503,407 over the last three months. Company insiders own 0.11% of the company’s stock.
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).
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