Cisco Systems, Inc. (CSCO) is Miller Howard Investments Inc. NY’s 5th Largest Position
Miller Howard Investments Inc. NY cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 3,557,908 shares of the network equipment provider’s stock after selling 93,953 shares during the quarter. Cisco Systems makes up approximately 2.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 5th largest position. Miller Howard Investments Inc. NY’s holdings in Cisco Systems were worth $119,652,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $231,000. Barnett & Company Inc. boosted its stake in shares of Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $104,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective for the company in a research note on Wednesday, December 27th. Stifel Nicolaus restated a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. Finally, Robert W. Baird restated a “buy” rating and set a $41.00 price objective on shares of Cisco Systems in a research note on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $37.66.
Cisco Systems, Inc. (NASDAQ CSCO) opened at $39.69 on Wednesday. The firm has a market cap of $196,210.00, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.57 and a beta of 1.19. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $39.96.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. equities research analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.92%. Cisco Systems’s dividend payout ratio is currently 60.10%.
In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the transaction, the chief accounting officer now directly owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.
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Cisco Systems Company Profile
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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