Stephens Inc. AR Increases Stake in Cisco Systems Inc. (CSCO)
Stephens Inc. AR boosted its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,102 shares of the network equipment provider’s stock after buying an additional 24,305 shares during the period. Stephens Inc. AR’s holdings in Cisco Systems were worth $10,676,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Carroll Financial Associates Inc. boosted its position in shares of Cisco Systems by 1.8% in the first quarter. Carroll Financial Associates Inc. now owns 67,139 shares of the network equipment provider’s stock valued at $1,911,000 after buying an additional 1,175 shares in the last quarter. Ronna Sue Cohen boosted its position in shares of Cisco Systems by 6.0% in the first quarter. Ronna Sue Cohen now owns 117,402 shares of the network equipment provider’s stock valued at $3,342,000 after buying an additional 6,642 shares in the last quarter. Boston Advisors LLC boosted its position in shares of Cisco Systems by 2.7% in the first quarter. Boston Advisors LLC now owns 641,312 shares of the network equipment provider’s stock valued at $18,258,000 after buying an additional 16,738 shares in the last quarter. Narwhal Capital Management boosted its position in shares of Cisco Systems by 21.4% in the first quarter. Narwhal Capital Management now owns 131,515 shares of the network equipment provider’s stock valued at $3,744,000 after buying an additional 23,215 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in shares of Cisco Systems by 4.3% in the first quarter. GW&K Investment Management LLC now owns 886,921 shares of the network equipment provider’s stock valued at $25,251,000 after buying an additional 36,265 shares in the last quarter. Institutional investors own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.238% on Monday, hitting $31.545. 3,769,452 shares of the stock were exchanged. The firm’s 50-day moving average is $31.33 and its 200-day moving average is $29.43. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The company has a market cap of $158.18 billion, a P/E ratio of 14.950 and a beta of 1.48.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The business earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s dividend payout ratio is presently 49.06%.
A number of research firms recently commented on CSCO. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price objective on the stock. in a report on Monday, September 5th. Jefferies Group reiterated a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. Deutsche Bank AG upped their price objective on Cisco Systems from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Raymond James Financial Inc. upped their price objective on Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $34.00 price objective (up from $30.00) on shares of Cisco Systems in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.50.
In other Cisco Systems news, insider John T. Chambers sold 541,666 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.08, for a total transaction of $16,834,979.28. Following the completion of the transaction, the insider now directly owns 2,008,697 shares of the company’s stock, valued at approximately $62,430,302.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karen Walker sold 10,244 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $31.17, for a total transaction of $319,305.48. Following the transaction, the senior vice president now directly owns 138,625 shares of the company’s stock, valued at $4,320,941.25. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
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.
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