Hamlin Capital Management LLC Has $92.72 Million Stake in Cisco Systems, Inc. (CSCO)
Hamlin Capital Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,962,380 shares of the network equipment provider’s stock after purchasing an additional 485,902 shares during the quarter. Cisco Systems makes up approximately 3.9% of Hamlin Capital Management LLC’s holdings, making the stock its 6th biggest holding. Hamlin Capital Management LLC owned about 0.06% of Cisco Systems worth $92,722,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares during the period. Riggs Asset Managment Co. Inc. raised its position in shares of Cisco Systems by 23.1% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 823 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Cisco Systems by 14.3% in the 1st quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock valued at $150,000 after acquiring an additional 555 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $174,000. 75.32% of the stock is currently owned by institutional investors.
In other news, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 in the last quarter. 0.11% of the stock is owned by corporate insiders.
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A number of brokerages recently weighed in on CSCO. KeyCorp set a $33.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Thursday, October 12th. Credit Suisse Group reiterated a “hold” rating and issued a $35.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a research report on Thursday, September 28th. Fifteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.30.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 33.54 on Tuesday. The stock’s 50 day moving average price is $32.80 and its 200-day moving average price is $32.33. The firm has a market cap of $166.09 billion, a P/E ratio of 17.65 and a beta of 1.21. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, analysts predict 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 will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.46%. Cisco Systems’s payout ratio is 60.73%.
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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