Wendell David Associates Inc. Has $2.59 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)
Wendell David Associates Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 76,571 shares of the network equipment provider’s stock after buying an additional 500 shares during the period. Wendell David Associates Inc.’s holdings in Cisco Systems were worth $2,588,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Dodge & Cox purchased a new stake in shares of Cisco Systems during the fourth quarter worth $1,950,935,000. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter worth $1,306,395,000. Asset Management One Co. Ltd. increased its stake in shares of Cisco Systems by 1,032.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,822,459 shares of the network equipment provider’s stock worth $266,816,000 after buying an additional 8,043,558 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $179,753,000. Finally, State Street Corp increased its position in shares of Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock valued at $6,605,412,000 after buying an additional 5,886,055 shares during the last quarter. 75.32% of the stock is currently owned by institutional investors.
Cisco Systems, Inc. (CSCO) traded up 0.48% during midday trading on Friday, reaching $31.42. 13,573,117 shares of the company’s stock were exchanged. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The firm’s 50 day moving average is $31.99 and its 200 day moving average is $32.31. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 15.95 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is presently 58.29%.
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Several research firms have recently issued reports on CSCO. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $38.00 price target on shares of Cisco Systems in a research note on Friday. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.45 price target for the company. in a research note on Friday. Cowen and Company reiterated an “outperform” rating and set a $39.00 price objective on shares of Cisco Systems in a research report on Tuesday, July 4th. Instinet reiterated a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $35.29.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is owned by corporate insiders.
About Cisco Systems
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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