Birch Capital Management LLC Sells 213 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)
Birch Capital Management LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,752 shares of the network equipment provider’s stock after selling 213 shares during the quarter. Birch Capital Management LLC’s holdings in Cisco Systems were worth $91,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in CSCO. Wealth Alliance raised its stake in shares of Cisco Systems by 5.9% in the third quarter. Wealth Alliance now owns 48,364 shares of the network equipment provider’s stock worth $1,905,000 after purchasing an additional 2,714 shares during the last quarter. Weld Capital Management LLC purchased a new position in shares of Cisco Systems in the third quarter worth $300,000. ExodusPoint Capital Management LP purchased a new position in shares of Cisco Systems in the third quarter worth $897,000. Lombard Odier Asset Management Switzerland SA raised its stake in shares of Cisco Systems by 6.6% in the third quarter. Lombard Odier Asset Management Switzerland SA now owns 29,547 shares of the network equipment provider’s stock worth $1,164,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Cisco Systems by 320.2% in the third quarter. Cubist Systematic Strategies LLC now owns 433,138 shares of the network equipment provider’s stock worth $17,061,000 after purchasing an additional 330,059 shares during the last quarter. 70.62% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Thursday, March 11th. Raymond James boosted their price target on Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $50.00 to $59.00 in a report on Wednesday, March 31st. Credit Suisse Group boosted their price target on Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Cisco Systems in a research note on Tuesday, February 9th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $49.48.
CSCO stock traded down $0.26 during midday trading on Thursday, reaching $51.51. 141,356 shares of the company traded hands, compared to its average volume of 22,293,586. Cisco Systems, Inc. has a 52-week low of $35.28 and a 52-week high of $52.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59. The business has a 50 day moving average of $48.45 and a 200-day moving average of $43.93. The firm has a market capitalization of $217.46 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.54 and a beta of 0.95.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, April 5th. Cisco Systems’s dividend payout ratio is presently 50.68%.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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