Curbstone Financial Management Corp Acquires 575 Shares of Cisco Systems, Inc. (CSCO)
Curbstone Financial Management Corp lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 37,067 shares of the network equipment provider’s stock after purchasing an additional 575 shares during the period. Curbstone Financial Management Corp’s holdings in Cisco Systems were worth $1,160,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Partners boosted its position in Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the period. Karp Capital Management Corp purchased a new stake in Cisco Systems during the 1st quarter valued at $109,564,000. Mondrian Investment Partners LTD purchased a new stake in Cisco Systems during the 1st quarter valued at $60,047,000. Achmea Investment Management B.V. purchased a new stake in Cisco Systems during the 1st quarter valued at $31,170,000. Finally, Acadian Asset Management LLC boosted its position in Cisco Systems by 469.6% during the 1st quarter. Acadian Asset Management LLC now owns 929,317 shares of the network equipment provider’s stock valued at $31,412,000 after buying an additional 766,169 shares during the period. 74.70% of the stock is owned by institutional investors and hedge funds.
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CSCO has been the subject of several analyst reports. Drexel Hamilton reissued a “buy” rating and set a $39.00 price target on shares of Cisco Systems in a research report on Sunday, June 25th. Deutsche Bank AG reissued a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, June 13th. Morgan Stanley set a $39.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, May 29th. 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. Finally, Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $35.13 price target for the company. in a research report on Monday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $35.57.
Shares of Cisco Systems, Inc. (CSCO) traded up 0.78% during trading on Friday, reaching $32.44. 29,336,087 shares of the company’s stock traded hands. The company has a 50 day moving average price of $31.66 and a 200-day moving average price of $32.46. The stock has a market cap of $160.64 billion, a P/E ratio of 17.07 and a beta of 1.19. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.58%. Cisco Systems’s payout ratio is 60.73%.
In other news, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders have sold a total of 420,138 shares of company stock worth $13,239,624 in the last ninety days. Corporate 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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