Gibraltar Capital Management Inc. Has $3.84 Million Stake in Cisco Systems, Inc. (CSCO)
Gibraltar Capital Management Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,944 shares of the network equipment provider’s stock after selling 3,414 shares during the period. Cisco Systems accounts for 3.0% of Gibraltar Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Gibraltar Capital Management Inc.’s holdings in Cisco Systems were worth $3,841,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new position in shares of Cisco Systems during the first quarter valued at approximately $502,000. Blair William & Co. IL increased its stake in shares of Cisco Systems by 6.8% during the first quarter. Blair William & Co. IL now owns 1,231,688 shares of the network equipment provider’s stock valued at $52,827,000 after acquiring an additional 78,669 shares during the period. Ostrum Asset Management acquired a new position in shares of Cisco Systems during the first quarter valued at approximately $2,177,000. Vestor Capital LLC acquired a new position in shares of Cisco Systems during the first quarter valued at approximately $2,754,000. Finally, United Capital Financial Advisers LLC increased its stake in shares of Cisco Systems by 2.8% during the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after acquiring an additional 56,027 shares during the period. 69.30% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Irving Tan sold 28,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $48.43, for a total value of $1,356,040.00. Following the completion of the transaction, the senior vice president now owns 188,853 shares of the company’s stock, valued at approximately $9,146,150.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prat Bhatt sold 33,950 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the completion of the transaction, the senior vice president now directly owns 90,207 shares of the company’s stock, valued at approximately $4,046,686.02. The disclosure for this sale can be found here. Insiders sold a total of 224,373 shares of company stock valued at $10,594,929 in the last ninety days. Company insiders own 0.03% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the business posted $0.61 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 2.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s dividend payout ratio is 56.41%.
A number of research firms recently commented on CSCO. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Robert W. Baird restated an “outperform” rating and issued a $53.00 price target on shares of Cisco Systems in a research report on Thursday, November 29th. Nomura lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Friday. Piper Jaffray Companies set a $53.00 price target on shares of Cisco Systems and gave the stock an “overweight” rating in a research report on Monday, October 1st. Finally, Loop Capital restated a “hold” rating and issued a $47.00 price target on shares of Cisco Systems in a research report on Monday, August 20th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $50.87.
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Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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