McQueen Ball & Associates Inc. Purchases 1,010 Shares of Cisco Systems Inc. (CSCO)
McQueen Ball & Associates Inc. increased its position in Cisco Systems Inc. (NASDAQ:CSCO) by 1.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 65,564 shares of the network equipment provider’s stock after buying an additional 1,010 shares during the period. Cisco Systems accounts for about 1.3% of McQueen Ball & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. McQueen Ball & Associates Inc.’s holdings in Cisco Systems were worth $1,881,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Sun Life Financial INC acquired a new position in Cisco Systems during the first quarter worth about $63,773,000. Parasol Investment Management LLC boosted its stake in Cisco Systems by 94.1% in the second quarter. Parasol Investment Management LLC now owns 5,240 shares of the network equipment provider’s stock valued at $150,000 after buying an additional 2,540 shares during the period. Vigilant Capital Management LLC boosted its stake in Cisco Systems by 995.5% in the second quarter. Vigilant Capital Management LLC now owns 5,839 shares of the network equipment provider’s stock valued at $168,000 after buying an additional 5,306 shares during the period. D. Scott Neal Inc. boosted its stake in Cisco Systems by 48.0% in the second quarter. D. Scott Neal Inc. now owns 6,171 shares of the network equipment provider’s stock valued at $177,000 after buying an additional 2,000 shares during the period. Finally, Kings Point Capital Management boosted its stake in Cisco Systems by 33.2% in the first quarter. Kings Point Capital Management now owns 6,715 shares of the network equipment provider’s stock valued at $191,000 after buying an additional 1,672 shares during the period. Institutional investors own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.05% during trading on Friday, reaching $31.72. The company had a trading volume of 30,380,612 shares. The company has a market capitalization of $159.06 billion, a PE ratio of 15.03 and a beta of 1.37. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The firm’s 50 day moving average is $31.24 and its 200 day moving average is $29.30.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. Cisco Systems’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.28%. Cisco Systems’s payout ratio is 49.06%.
Several analysts have recently weighed in on CSCO shares. Oppenheimer Holdings Inc. restated a “buy” rating and set a $30.00 price target on shares of Cisco Systems in a report on Monday, June 6th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $30.77 price target on the stock in a report on Tuesday, June 7th. Credit Suisse Group AG restated a “sell” rating on shares of Cisco Systems in a report on Wednesday, June 8th. JPMorgan Chase & Co. restated a “hold” rating on shares of Cisco Systems in a report on Wednesday, June 8th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Cisco Systems in a report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have given a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average target price of $32.43.
In other news, Director Steven M. West sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total value of $453,000.00. Following the transaction, the director now directly owns 26,804 shares in the company, valued at $809,480.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total value of $4,614,288.00. Following the completion of the transaction, the chief executive officer now owns 629,813 shares in the company, valued at $19,530,501.13. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.