Atlantic Trust LLC Buys 4,904 Shares of Cisco Systems, Inc. (CSCO)
Atlantic Trust LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,980 shares of the network equipment provider’s stock after buying an additional 4,904 shares during the period. Cisco Systems makes up 2.8% of Atlantic Trust LLC’s investment portfolio, making the stock its 8th largest position. Atlantic Trust LLC’s holdings in Cisco Systems were worth $3,379,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CSCO. First Hawaiian Bank bought a new stake in Cisco Systems during the first quarter valued at approximately $215,000. Syntal Capital Partners LLC acquired a new position in Cisco Systems during the first quarter valued at about $257,000. Dodge & Cox acquired a new position in Cisco Systems during the fourth quarter valued at about $1,950,935,000. Hefty Wealth Partners boosted its position in Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock valued at $2,314,000 after buying an additional 68,048 shares during the last quarter. Finally, City Holding Co. boosted its position in Cisco Systems by 0.4% in the first quarter. City Holding Co. now owns 87,638 shares of the network equipment provider’s stock valued at $2,961,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 1.1017% during midday trading on Monday, hitting $30.7046. The company had a trading volume of 10,428,908 shares. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company’s 50 day moving average is $31.48 and its 200 day moving average is $32.55. The firm has a market cap of $153.31 billion, a price-to-earnings ratio of 16.1603 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. Cisco Systems’s dividend payout ratio is presently 60.73%.
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CSCO has been the subject of several research analyst reports. Vetr cut Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research report on Wednesday, April 26th. Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Drexel Hamilton reiterated a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 16th. Finally, Citigroup Inc. set a $36.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, May 19th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.47.
In related news, insider John T. Chambers sold 295,537 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares in the company, valued at approximately $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 90 days. 0.11% of the stock is currently owned by company 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).
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