Acadian Asset Management LLC Acquires 1,879,688 Shares of Cisco Systems, Inc. (CSCO)
Acadian Asset Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 202.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,809,005 shares of the network equipment provider’s stock after purchasing an additional 1,879,688 shares during the quarter. Acadian Asset Management LLC owned approximately 0.06% of Cisco Systems worth $87,922,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners boosted its position in shares of 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 acquiring an additional 23,002,159 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Cisco Systems during the 1st quarter valued at about $109,564,000. Mondrian Investment Partners LTD acquired a new position in shares of Cisco Systems during the 1st quarter valued at about $60,047,000. Achmea Investment Management B.V. acquired a new position in shares of Cisco Systems during the 1st quarter valued at about $31,170,000. Finally, Swedbank boosted its position in shares of Cisco Systems by 13.1% during the 2nd quarter. Swedbank now owns 6,744,329 shares of the network equipment provider’s stock valued at $211,097,000 after acquiring an additional 778,863 shares during the last quarter. 75.37% of the stock is currently owned by institutional investors.
Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.55% on Wednesday, reaching $32.67. The company’s stock had a trading volume of 7,612,465 shares. The firm has a market capitalization of $161.78 billion, a P/E ratio of 17.19 and a beta of 1.19. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The firm has a 50-day moving average price of $31.72 and a 200 day moving average price of $32.41. Cisco Systems also saw unusually large options trading on Monday. Investors purchased 16,510 put options on the company. This represents an increase of approximately 117% compared to the average daily volume of 7,614 put options.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share 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 $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
In other news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 420,138 shares of company stock worth $13,239,624 in the last three months. Company insiders own 0.11% of the company’s stock.
Several research analysts have recently weighed in on CSCO shares. 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, BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.57.
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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