Cisco Systems Inc. (CSCO) Position Decreased by KAMES CAPITAL plc
KAMES CAPITAL plc lowered its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,893,765 shares of the network equipment provider’s stock after selling 210,856 shares during the period. Cisco Systems makes up 2.4% of KAMES CAPITAL plc’s holdings, making the stock its 9th largest position. KAMES CAPITAL plc owned 0.06% of Cisco Systems worth $82,993,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Sun Life Financial INC purchased a new position in shares of Cisco Systems during the first quarter valued at approximately $63,773,000. Riggs Asset Managment Co. Inc. raised its position in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares during the period. Lenox Wealth Management Inc. raised its position in shares of Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares during the period. Global X Management Co. LLC raised its position in shares of Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares during the period. Finally, Financial Management Professionals Inc. raised its position in shares of Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock valued at $125,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.43% during mid-day trading on Friday, reaching $30.18. The company’s stock had a trading volume of 38,748,563 shares. The company’s 50-day moving average price is $30.79 and its 200 day moving average price is $29.97. The firm has a market capitalization of $151.71 billion, a price-to-earnings ratio of 14.44 and a beta of 1.42. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The business earned $12.35 billion during the quarter, compared to the consensus estimate of $12.34 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, equities analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio is currently 49.52%.
Several brokerages recently weighed in on CSCO. RBC Capital Markets restated an “outperform” rating and set a $35.00 target price on shares of Cisco Systems in a report on Sunday, September 4th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 target price for the company. in a report on Monday, September 5th. Deutsche Bank AG restated a “buy” rating and set a $35.00 target price on shares of Cisco Systems in a report on Tuesday, September 6th. Raymond James Financial Inc. increased their target price on Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Finally, JMP Securities restated a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $32.57.
In related news, Director Carol Bartz sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the sale, the director now owns 23,104 shares in the company, valued at approximately $722,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 25,706 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $31.02, for a total transaction of $797,400.12. Following the completion of the sale, the senior vice president now owns 133,113 shares of the company’s stock, valued at approximately $4,129,165.26. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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