Shikiar Asset Management Inc. Raises Holdings in Cisco Systems, Inc. (CSCO)
Shikiar Asset Management Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 157,295 shares of the network equipment provider’s stock after purchasing an additional 7,595 shares during the period. Cisco Systems makes up 2.1% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Shikiar Asset Management Inc.’s holdings in Cisco Systems were worth $4,923,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of CSCO. Boston Partners boosted its holdings in shares of Cisco Systems by 304.2% in the first 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 in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Cisco Systems in the first quarter valued at about $109,564,000. Acadian Asset Management LLC boosted its holdings in shares of Cisco Systems by 202.3% in the second quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock valued at $87,922,000 after acquiring an additional 1,879,688 shares in the last quarter. Sei Investments Co. boosted its holdings in Cisco Systems by 62.6% during the second quarter. Sei Investments Co. now owns 3,679,903 shares of the network equipment provider’s stock worth $115,182,000 after buying an additional 1,416,225 shares in the last quarter. Finally, Locust Wood Capital Advisers LLC purchased a new stake in Cisco Systems during the second quarter worth about $31,483,000. 75.22% of the stock is currently owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $33.99 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.75. The company has a market cap of $168,311.06, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
In related news, CEO Charles Robbins sold 121,390 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 $3,891,763.40. Following the transaction, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 25,638 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 $821,954.28. Following the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 485,138 shares of company stock worth $15,347,574. Insiders own 0.05% of the company’s stock.
CSCO has been the topic of a number of research analyst reports. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price objective on the stock in a report on Monday, July 17th. Zacks Investment Research raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BMO Capital Markets reissued a “hold” rating on shares of Cisco Systems in a report on Friday, July 28th. BidaskClub downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG set a $40.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average target price of $35.26.
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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