Sand Hill Global Advisors LLC Has $297,000 Position in Cisco Systems, Inc. (CSCO)
Sand Hill Global Advisors LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 57.7% in the 1st quarter, Holdings Channel reports. The firm owned 6,915 shares of the network equipment provider’s stock after selling 9,431 shares during the period. Sand Hill Global Advisors LLC’s holdings in Cisco Systems were worth $297,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in CSCO. Keeler Thomas Management LLC bought a new position in shares of Cisco Systems in the fourth quarter worth about $108,000. Goodman Financial Corp bought a new position in shares of Cisco Systems in the fourth quarter worth about $115,000. Certified Advisory Corp acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $116,000. Delphi Private Advisors LLC grew its position in shares of Cisco Systems by 307.8% during the 4th quarter. Delphi Private Advisors LLC now owns 3,552 shares of the network equipment provider’s stock worth $136,000 after buying an additional 2,681 shares during the period. Finally, Trustcore Financial Services LLC grew its position in shares of Cisco Systems by 143.5% during the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after buying an additional 1,941 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on CSCO. BidaskClub cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Monday, July 9th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price target for the company. in a research report on Wednesday, April 18th. Finally, JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Thursday, May 3rd. They set an “overweight” rating and a $57.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $46.42.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. During the same quarter in the previous year, the company earned $0.60 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Friday, July 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, July 5th. Cisco Systems’s dividend payout ratio is currently 61.40%.
In related news, EVP David Goeckeler sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the transaction, the executive vice president now owns 490,458 shares in the company, valued at $21,222,117.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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