Schooner Investment Group LLC. Has $360,000 Stake in Cisco Systems Inc. (CSCO)
Schooner Investment Group LLC. held its position in Cisco Systems Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,500 shares of the network equipment provider’s stock at the end of the second quarter. Schooner Investment Group LLC.’s holdings in Cisco Systems were worth $360,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Mercer Capital Advisers Inc. boosted its stake in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares during the last quarter. Pinnacle Holdings LLC raised its position in Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock worth $456,000 after buying an additional 81 shares during the period. Moody Lynn & Lieberson LLC raised its position in Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock worth $399,000 after buying an additional 83 shares during the period. Empirical Financial Services LLC raised its position in Cisco Systems by 1.1% in the second quarter. Empirical Financial Services LLC now owns 9,838 shares of the network equipment provider’s stock worth $282,000 after buying an additional 106 shares during the period. Finally, WASHINGTON TRUST Co raised its position in Cisco Systems by 0.7% in the first quarter. WASHINGTON TRUST Co now owns 19,353 shares of the network equipment provider’s stock worth $551,000 after buying an additional 141 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.580% on Monday, reaching $30.355. The company’s stock had a trading volume of 3,227,016 shares. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95. The company’s 50 day moving average is $31.29 and its 200-day moving average is $29.51. The firm has a market cap of $152.21 billion, a price-to-earnings ratio of 14.386 and a beta of 1.48.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The business earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. Cisco Systems’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. Equities research analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors 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 dividend on an annualized basis and a dividend yield of 3.45%. Cisco Systems’s payout ratio is presently 49.06%.
Several brokerages have recently weighed in on CSCO. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. Vetr upgraded shares of 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 objective on shares of Cisco Systems in a research report on Monday, September 26th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Friday, September 23rd. Finally, Raymond James Financial Inc. increased their price objective on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $32.50.
In related news, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now directly owns 26,804 shares in the company, valued at $809,480.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mark D. Chandler sold 25,024 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares of the company’s stock, valued at $6,998,308.20. 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.
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.