817,678 Shares in Cisco Systems, Inc. (CSCO) Acquired by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 817,678 shares of the network equipment provider’s stock, valued at approximately $25,593,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Aspiriant LLC grew its holdings in shares of Cisco Systems by 0.4% in the 2nd quarter. Aspiriant LLC now owns 53,270 shares of the network equipment provider’s stock valued at $1,667,000 after buying an additional 208 shares during the period. Ballentine Partners LLC grew its holdings in shares of Cisco Systems by 27.4% in the 2nd quarter. Ballentine Partners LLC now owns 50,371 shares of the network equipment provider’s stock valued at $1,616,000 after buying an additional 10,828 shares during the period. Highstreet Asset Management Inc. grew its holdings in shares of Cisco Systems by 509.8% in the 2nd quarter. Highstreet Asset Management Inc. now owns 377,896 shares of the network equipment provider’s stock valued at $11,833,000 after buying an additional 315,925 shares during the period. Camden National Bank grew its holdings in shares of Cisco Systems by 16.5% in the 2nd quarter. Camden National Bank now owns 6,986 shares of the network equipment provider’s stock valued at $219,000 after buying an additional 991 shares during the period. Finally, Allegis Investment Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $309,000. 75.22% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 over the last quarter. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $34.04 on Wednesday. The stock has a market cap of $168,113.00, a PE ratio of 15.65, a PEG ratio of 2.97 and a beta of 1.15. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $34.75. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last issued 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 analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
Several brokerages have recently issued reports on CSCO. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Monday, September 11th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Thursday, August 17th. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a research report on Thursday, August 17th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Friday, August 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $35.31.
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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