Richard Bernstein Advisors LLC Continues to Hold Stake in Cisco Systems, Inc. (NASDAQ:CSCO)
Richard Bernstein Advisors LLC continued to hold its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,230 shares of the network equipment provider’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Cisco Systems were worth $7,511,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the company. Barings LLC raised its position in Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock worth $7,687,000 after buying an additional 32,900 shares in the last quarter. Santa Barbara Asset Management LLC acquired a new position in Cisco Systems during the fourth quarter worth about $58,476,000. First Hawaiian Bank acquired a new position in Cisco Systems during the first quarter worth about $215,000. Seven Eight Capital LP acquired a new position in Cisco Systems during the fourth quarter worth about $112,000. Finally, Dodge & Cox acquired a new position in Cisco Systems during the fourth quarter worth about $1,950,935,000. 75.40% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 31.80 on Monday. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The stock has a market capitalization of $159.00 billion, a price-to-earnings ratio of 16.14 and a beta of 1.24. The firm’s 50-day moving average is $31.58 and its 200-day moving average is $32.49.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.65%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
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A number of equities analysts have issued reports on CSCO shares. Jefferies Group LLC reissued a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research report on Friday, May 26th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price target (down from $37.00) on shares of Cisco Systems in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.31.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 396,179 shares of company stock worth $12,503,407. Company insiders own 0.11% of the company’s stock.
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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