Cisco Systems Inc. (CSCO) Position Increased by Markel Corp
Markel Corp raised its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 209.5% during the second quarter, Holdings Channel reports. The firm owned 195,000 shares of the network equipment provider’s stock after buying an additional 132,000 shares during the period. Markel Corp’s holdings in Cisco Systems were worth $5,595,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lincoln National Corp increased its stake in Cisco Systems by 5.8% in the second quarter. Lincoln National Corp now owns 97,867 shares of the network equipment provider’s stock valued at $2,808,000 after buying an additional 5,403 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC increased its stake in Cisco Systems by 0.7% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 114,961 shares of the network equipment provider’s stock valued at $3,298,000 after buying an additional 819 shares in the last quarter. Brown Advisory Securities LLC increased its stake in Cisco Systems by 11.1% in the second quarter. Brown Advisory Securities LLC now owns 43,958 shares of the network equipment provider’s stock valued at $1,258,000 after buying an additional 4,381 shares in the last quarter. Motco increased its stake in Cisco Systems by 0.4% in the second quarter. Motco now owns 280,083 shares of the network equipment provider’s stock valued at $8,035,000 after buying an additional 1,051 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in Cisco Systems during the second quarter valued at $2,034,000. Institutional investors and hedge funds own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.619% on Friday, hitting $31.285. 5,428,300 shares of the company traded hands. The stock’s 50-day moving average is $31.30 and its 200 day moving average is $29.40. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95. The stock has a market cap of $156.87 billion, a PE ratio of 14.827 and a beta of 1.49.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period last year, the business earned $0.59 EPS. Cisco Systems’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts expect that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.30%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s payout ratio is currently 49.06%.
CSCO has been the subject of a number of recent research reports. Deutsche Bank AG reissued a “buy” rating on shares of Cisco Systems in a research note on Wednesday, June 15th. Royal Bank Of Canada reissued a “buy” rating on shares of Cisco Systems in a research note on Friday, June 10th. Cowen and Company reissued a “buy” rating on shares of Cisco Systems in a research note on Wednesday, June 15th. Drexel Hamilton reissued a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 15th. Finally, Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.50.
In other Cisco Systems news, CEO Charles Robbins sold 148,800 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the transaction, the chief executive officer now directly owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven M. West sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total transaction of $453,000.00. Following the transaction, the director now directly owns 26,804 shares in the company, valued at $809,480.80. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
About Cisco Systems
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.
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