Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by River Road Asset Management LLC
River Road Asset Management LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,139,304 shares of the network equipment provider’s stock after acquiring an additional 24,615 shares during the quarter. River Road Asset Management LLC’s holdings in Cisco Systems were worth $56,293,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cordasco Financial Network increased its stake in shares of Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.
A number of research analysts recently commented on CSCO shares. UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. Piper Jaffray Companies cut shares of Cisco Systems from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $51.00 in a report on Monday. Royal Bank of Canada reduced their target price on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Raymond James restated an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. Finally, Barclays initiated coverage on shares of Cisco Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.64.
Cisco Systems stock traded up $0.28 during midday trading on Tuesday, reaching $48.38. The stock had a trading volume of 1,028,822 shares, compared to its average volume of 16,002,102. The firm’s fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $52.00. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market cap of $207.23 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.37 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s dividend payout ratio is 49.12%.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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