Parkwood LLC Has $4,733,000 Stake in Cisco Systems Inc. (CSCO)
Parkwood LLC boosted its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 17.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,978 shares of the network equipment provider’s stock after buying an additional 24,880 shares during the period. Cisco Systems accounts for about 0.8% of Parkwood LLC’s investment portfolio, making the stock its 23rd largest position. Parkwood LLC’s holdings in Cisco Systems were worth $4,733,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in Cisco Systems by 0.7% in the first quarter. State Street Corp now owns 204,881,308 shares of the network equipment provider’s stock valued at $5,832,976,000 after buying an additional 1,454,960 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Cisco Systems by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 137,302,042 shares of the network equipment provider’s stock valued at $3,908,989,000 after buying an additional 1,525,298 shares during the period. Dodge & Cox boosted its stake in Cisco Systems by 2.0% in the first quarter. Dodge & Cox now owns 69,095,628 shares of the network equipment provider’s stock valued at $1,967,153,000 after buying an additional 1,341,950 shares during the period. 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 period. Finally, BlackRock Group LTD boosted its stake in Cisco Systems by 0.9% in the first quarter. BlackRock Group LTD now owns 54,415,499 shares of the network equipment provider’s stock valued at $1,549,209,000 after buying an additional 459,754 shares during the period. 75.06% of the stock is owned by institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.73% during trading on Tuesday, reaching $30.44. 14,444,850 shares of the company’s stock traded hands. The company’s 50-day moving average is $31.23 and its 200 day moving average is $29.55. The company has a market cap of $152.64 billion, a price-to-earnings ratio of 14.43 and a beta of 1.48. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. Equities analysts forecast that Cisco Systems Inc. will post $2.43 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s dividend payout ratio is presently 49.06%.
Several analysts have recently commented on CSCO shares. Morgan Stanley reissued a “hold” rating and set a $28.00 price target on shares of Cisco Systems in a research note on Monday, July 18th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, August 18th. Argus raised their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Raymond James Financial Inc. raised their price objective on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.56.
In other news, Director Steven M. West sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were 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 directly owns 26,804 shares in the company, valued at $809,480.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 25,024 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $30.44, for a total transaction of $761,730.56. Following the completion of 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. 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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