Gibraltar Capital Management Inc. Has $3.10 Million Stake in Cisco Systems, Inc. (CSCO)
Gibraltar Capital Management Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,031 shares of the network equipment provider’s stock after purchasing an additional 8 shares during the period. Cisco Systems makes up approximately 3.1% of Gibraltar Capital Management Inc.’s holdings, making the stock its 17th largest holding. Gibraltar Capital Management Inc.’s holdings in Cisco Systems were worth $3,100,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in CSCO. Holderness Investments Co. grew its position in Cisco Systems by 12.1% during the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the last quarter. Congress Asset Management Co. MA lifted its holdings in Cisco Systems by 4.1% during the 1st quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock worth $4,982,000 after buying an additional 5,796 shares in the last quarter. Pioneer Investment Management Inc. lifted its holdings in Cisco Systems by 5.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after buying an additional 408,875 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Cisco Systems by 2.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 724,037 shares of the network equipment provider’s stock worth $24,472,000 after buying an additional 17,135 shares in the last quarter. Finally, First Hawaiian Bank acquired a new position in Cisco Systems during the 1st quarter worth $215,000. Institutional investors own 75.37% of the company’s stock.
Several research firms have issued reports on CSCO. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the company a “hold” rating in a research note on Tuesday, August 15th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Finally, Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price objective on the stock in a research note on Thursday, July 6th. Fourteen analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $35.57.
Cisco Systems, Inc. (CSCO) traded up 2.05% during midday trading on Friday, hitting $33.37. 28,234,858 shares of the company were exchanged. The firm has a market capitalization of $165.25 billion, a PE ratio of 17.56 and a beta of 1.19. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a 50 day moving average of $31.72 and a 200 day moving average of $32.41.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the company posted $0.63 EPS. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be given 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 yield of 3.48%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.73%.
In related news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.11% of the stock is currently owned by corporate insiders.
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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