Wealth Architects LLC Sells 498 Shares of Cisco Systems Inc. (CSCO)
Wealth Architects LLC decreased its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 2.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,630 shares of the network equipment provider’s stock after selling 498 shares during the period. Wealth Architects LLC’s holdings in Cisco Systems were worth $477,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new stake in shares of Cisco Systems during the second quarter worth about $247,452,000. Lazard Asset Management LLC boosted its stake in Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock valued at $851,976,000 after buying an additional 8,009,233 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock valued at $1,959,666,000 after buying an additional 6,635,971 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Cisco Systems during the first quarter valued at $120,699,000. Finally, Primecap Management Co. CA boosted its stake in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock valued at $829,246,000 after buying an additional 4,013,625 shares during the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.82% during trading on Thursday, hitting $30.09. The stock had a trading volume of 9,708,560 shares. The firm has a 50 day moving average price of $31.35 and a 200 day moving average price of $29.49. The firm has a market cap of $150.88 billion, a P/E ratio of 14.26 and a beta of 1.49. Cisco Systems Inc. has a 12-month low of $22.46 and a 12-month high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the 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 firm earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities 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. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.43%. Cisco Systems’s dividend payout ratio is presently 49.06%.
Several research firms have weighed in on CSCO. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price target on the stock in a report on Monday, October 3rd. Bank of America Corp. reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Cisco Systems in a report on Monday, September 26th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday, September 23rd. Finally, Raymond James Financial Inc. raised their price target on Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $32.50.
In related news, SVP Karen Walker sold 10,244 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total value of $319,305.48. Following the completion of the transaction, the senior vice president now owns 138,625 shares in the company, valued at approximately $4,320,941.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The disclosure for this sale can be found here. 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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