Davidson Investment Advisors lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,838 shares of the network equipment provider’s stock after selling 232 shares during the quarter. Davidson Investment Advisors’ holdings in Cisco Systems were worth $14,686,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new stake in Cisco Systems during the first quarter worth about $32,000. Tucker Asset Management LLC bought a new stake in Cisco Systems during the first quarter worth about $35,000. Fortis Capital Advisors LLC bought a new stake in Cisco Systems during the fourth quarter worth about $34,000. Nordwand Advisors LLC bought a new stake in Cisco Systems during the first quarter worth about $40,000. Finally, Spotlight Asset Group Inc. bought a new stake in Cisco Systems during the second quarter worth about $41,000. 72.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CSCO has been the topic of several research analyst reports. Oppenheimer decreased their price objective on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays upped their target price on shares of Cisco Systems from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. Evercore ISI upped their target price on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Finally, StockNews.com began coverage on shares of Cisco Systems in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.38.
Cisco Systems Stock Up 0.8 %
Shares of CSCO stock traded up $0.36 during trading hours on Monday, hitting $48.12. 11,349,745 shares of the company were exchanged, compared to its average volume of 18,382,707. The company has a market capitalization of $195.12 billion, a PE ratio of 14.43, a PEG ratio of 2.37 and a beta of 0.98. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The business has a 50 day moving average of $53.38 and a two-hundred day moving average of $52.32. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.92%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Analysts anticipate that Cisco Systems, Inc. will post 3.57 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Thursday, January 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Wednesday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 47.13%.
Insider Activity at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the sale, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is owned by insiders.
Cisco Systems 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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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