Bessemer Group Inc. Has $10.11 Million Holdings in Cisco Systems, Inc. (CSCO)
Bessemer Group Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,143 shares of the network equipment provider’s stock after purchasing an additional 12,139 shares during the quarter. Bessemer Group Inc.’s holdings in Cisco Systems were worth $10,114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter valued at approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in shares of Cisco Systems by 15.0% during 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. Baystate Wealth Management LLC lifted its position in shares of Cisco Systems by 24.5% during the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after acquiring an additional 1,484 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in shares of Cisco Systems by 23.1% during 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. Finally, Thompson Davis & CO. Inc. lifted its position in shares of Cisco Systems by 14.3% during 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. 75.32% of the stock is currently owned by institutional investors.
Shares of Cisco Systems, Inc. (CSCO) opened at 33.60 on Wednesday. The firm has a market cap of $166.39 billion, a price-to-earnings ratio of 17.68 and a beta of 1.21. The stock has a 50 day moving average of $32.80 and a 200-day moving average of $32.33. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Equities research analysts expect that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.45%. Cisco Systems’s dividend payout ratio is 60.73%.
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A number of equities research analysts have recently issued reports on CSCO shares. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price target for the company in a research report on Thursday, July 6th. BidaskClub upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Drexel Hamilton reiterated a “buy” rating and set a $39.00 price target on shares of Cisco Systems in a research report on Sunday, June 25th. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG set a $40.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $35.30.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 over the last 90 days. Company insiders own 0.11% of the company’s stock.
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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