Verity & Verity LLC Has $8.11 Million Stake in Cisco Systems, Inc. (CSCO)
Verity & Verity LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,107 shares of the network equipment provider’s stock after purchasing an additional 5,777 shares during the quarter. Cisco Systems accounts for 2.4% of Verity & Verity LLC’s portfolio, making the stock its 11th largest position. Verity & Verity LLC’s holdings in Cisco Systems were worth $8,109,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CSCO. Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. American Century Companies Inc. boosted its stake in Cisco Systems by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after acquiring an additional 5,049,326 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Cisco Systems by 51.1% during the 2nd quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after acquiring an additional 4,577,831 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in Cisco Systems by 36.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock valued at $419,903,000 after acquiring an additional 3,559,275 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Cisco Systems by 12.1% during the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after acquiring an additional 3,384,768 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $40.87 on Friday. The firm has a market cap of $202,050.00, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 3.57 and a beta of 1.19. Cisco Systems, Inc. has a twelve month low of $29.84 and a twelve month high of $40.93. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company 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 firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 earnings per share. sell-side analysts anticipate that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors 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 dividend on an annualized basis and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
In related news, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. Corporate insiders own 0.05% of the company’s stock.
A number of research analysts have commented on the stock. Piper Jaffray Companies reiterated an “overweight” rating and set a $44.00 price objective on shares of Cisco Systems in a research note on Wednesday. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research note on Wednesday, December 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $37.93.
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Cisco Systems 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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