Cisco Systems, Inc. (CSCO) Position Lowered by DF Dent & Co. Inc.
DF Dent & Co. Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 67,646 shares of the network equipment provider’s stock after selling 1,650 shares during the period. DF Dent & Co. Inc.’s holdings in Cisco Systems were worth $2,286,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Barings LLC raised its stake in shares of 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 bought a new stake in shares of Cisco Systems during the fourth quarter worth about $58,476,000. First Hawaiian Bank bought a new stake in shares of Cisco Systems during the first quarter worth about $215,000. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Finally, Hefty Wealth Partners raised its stake in shares of Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 1.10% during mid-day trading on Friday, hitting $31.34. The company’s stock had a trading volume of 5,593,993 shares. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The company has a market cap of $156.70 billion, a PE ratio of 15.91 and a beta of 1.24. The stock has a 50-day moving average of $31.55 and a 200-day moving average of $32.52. Cisco Systems also was the recipient of some unusual options trading on Wednesday. Stock traders bought 21,024 call options on the stock. This represents an increase of 113% compared to the average daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s payout ratio is 58.29%.
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A number of analysts have recently issued reports on CSCO shares. Jefferies Group LLC reissued a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Friday, May 26th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Robert W. Baird reissued a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $5,587,674.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. 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 ninety days. 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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