Cisco Systems, Inc. (CSCO) is Palisade Asset Management LLC’s 8th Largest Position
Palisade Asset Management LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the third quarter, Holdings Channel reports. The fund owned 387,193 shares of the network equipment provider’s stock after buying an additional 1,080 shares during the period. Cisco Systems accounts for approximately 2.3% of Palisade Asset Management LLC’s portfolio, making the stock its 8th largest position. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $12,282,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank boosted its position in Cisco Systems by 2.8% in the third quarter. Bangor Savings Bank now owns 21,621 shares of the network equipment provider’s stock valued at $686,000 after buying an additional 583 shares during the period. Beese Fulmer Investment Management Inc. boosted its position in Cisco Systems by 26.8% in the third quarter. Beese Fulmer Investment Management Inc. now owns 11,416 shares of the network equipment provider’s stock valued at $362,000 after buying an additional 2,411 shares during the period. Court Place Advisors LLC boosted its position in Cisco Systems by 2.3% in the third quarter. Court Place Advisors LLC now owns 140,711 shares of the network equipment provider’s stock valued at $4,463,000 after buying an additional 3,177 shares during the period. New Century Advisors LLC boosted its position in Cisco Systems by 69.6% in the third quarter. New Century Advisors LLC now owns 162,100 shares of the network equipment provider’s stock valued at $5,140,000 after buying an additional 66,500 shares during the period. Finally, 1st Global Advisors Inc. boosted its position in Cisco Systems by 4.2% in the third quarter. 1st Global Advisors Inc. now owns 124,736 shares of the network equipment provider’s stock valued at $3,957,000 after buying an additional 4,989 shares during the period. Institutional investors own 74.20% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 30.04 on Friday. The stock’s 50 day moving average is $30.15 and its 200-day moving average is $30.48. The stock has a market capitalization of $150.79 billion, a price-to-earnings ratio of 14.37 and a beta of 1.38. Cisco Systems, Inc. has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post $2.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.04 annualized dividend and a dividend yield of 3.46%. Cisco Systems’s dividend payout ratio is currently 49.52%.
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Several research firms recently issued reports on CSCO. 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 research report on Friday, September 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Wednesday, October 5th. Barclays PLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Cisco Systems in a research report on Thursday, November 17th. Pacific Crest reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, November 17th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $34.00 price target on shares of Cisco Systems in a report on Thursday, November 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.80.
In other Cisco Systems news, SVP Karen Walker sold 1,793 shares of the stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $30.41, for a total transaction of $54,525.13. Following the sale, the senior vice president now directly owns 183,275 shares in the company, valued at approximately $5,573,392.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is currently owned by insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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