Corsicana & Co. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,700 shares of the network equipment provider’s stock after selling 511 shares during the quarter. Corsicana & Co.’s holdings in Cisco Systems were worth $72,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in CSCO. Cordant Inc. bought a new stake in shares of Cisco Systems in the first quarter worth about $28,000. Advanced Research Investment Solutions LLC grew its stake in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after purchasing an additional 463 shares in the last quarter. Conrad Siegel Investment Advisors Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at approximately $33,000. PYA Waltman Capital LLC lifted its position in shares of Cisco Systems by 445.4% in the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock valued at $43,000 after buying an additional 628 shares during the last quarter. Finally, Evolution Advisers Inc. lifted its position in shares of Cisco Systems by 48.2% in the first quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock valued at $43,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Cowen lifted their price target on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $54.00 in a report on Friday, August 19th. Jefferies Financial Group lifted their price target on Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Cowen lifted their price target on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Citigroup raised their price objective on Cisco Systems from $40.00 to $44.00 and gave the stock a “sell” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $54.10.
Insiders Place Their Bets
Cisco Systems Stock Down 2.3 %
CSCO stock opened at $41.59 on Thursday. The stock’s 50 day simple moving average is $45.13 and its 200 day simple moving average is $47.62. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The company has a market cap of $170.89 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The business had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $12.78 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The business 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s dividend payout ratio is currently 53.90%.
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 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.
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