Cisco Systems, Inc. (CSCO) Stake Increased by Two Sigma Securities LLC
Two Sigma Securities LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,788 shares of the network equipment provider’s stock after buying an additional 11,562 shares during the period. Two Sigma Securities LLC’s holdings in Cisco Systems were worth $1,379,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of CSCO. Keel Point LLC raised its stake in Cisco Systems by 4.9% in the first quarter. Keel Point LLC now owns 8,784 shares of the network equipment provider’s stock valued at $297,000 after buying an additional 414 shares during the last quarter. MEMBERS Trust Co purchased a new stake in Cisco Systems during the first quarter valued at about $422,000. Oppenheimer Asset Management Inc. purchased a new stake in Cisco Systems during the first quarter valued at about $25,059,000. Oppenheimer & Co. Inc. raised its stake in Cisco Systems by 0.7% in the first quarter. Oppenheimer & Co. Inc. now owns 539,603 shares of the network equipment provider’s stock valued at $18,238,000 after buying an additional 3,783 shares during the last quarter. Finally, Logan Capital Management Inc. raised its stake in Cisco Systems by 772.5% in the first quarter. Logan Capital Management Inc. now owns 325,626 shares of the network equipment provider’s stock valued at $11,007,000 after buying an additional 288,305 shares during the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 1.52% on Friday, reaching $31.47. 20,756,566 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $31.54 and a 200 day moving average price of $32.53. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $157.35 billion, a PE ratio of 15.97 and a beta of 1.24. Cisco Systems also was the target of unusually large options trading on Wednesday. Stock investors purchased 21,024 call options on the stock. This is an increase of 113% compared to the typical daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Analysts expect 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 dividend of $0.29 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
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Several analysts have recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday. Deutsche Bank AG reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Tuesday. Robert W. Baird set a $38.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.31.
In other 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 directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was 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 have sold a total of 396,179 shares of company stock worth $12,503,407 over the last ninety days. Insiders own 0.11% of the company’s stock.
About Cisco Systems
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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