Marsico Capital Management LLC Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)
Marsico Capital Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.3% during the first quarter, Holdings Channel reports. The firm owned 326,794 shares of the network equipment provider’s stock after selling 50,233 shares during the period. Marsico Capital Management LLC’s holdings in Cisco Systems were worth $11,046,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,306,395,000. Boston Partners boosted its stake in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $134,343,000. Finally, Karp Capital Management Corp bought a new stake in shares of Cisco Systems during the first quarter worth approximately $109,564,000. Institutional investors own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) traded down 0.332% during mid-day trading on Thursday, reaching $31.515. The company’s stock had a trading volume of 3,789,422 shares. The stock has a market capitalization of $157.58 billion, a price-to-earnings ratio of 15.997 and a beta of 1.24. The company’s 50-day moving average is $31.57 and its 200-day moving average is $32.53. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. Cisco Systems also saw some unusual options trading activity on Wednesday. Stock traders purchased 21,024 call options on the stock. This represents an increase of approximately 113% compared to the typical volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Cisco Systems’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.67%. Cisco Systems’s dividend payout ratio is presently 58.29%.
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A number of brokerages have commented on CSCO. Deutsche Bank AG restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Tuesday. Robert W. Baird set a $38.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Monday. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Thursday, August 3rd. BidaskClub cut Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, BMO Capital Markets restated a “hold” rating on shares of Cisco Systems in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $35.31.
In other news, insider John T. Chambers sold 295,537 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 in the last 90 days. 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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