BTIM Corp. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,507,442 shares of the network equipment provider’s stock after buying an additional 19,841 shares during the period. BTIM Corp.’s holdings in Cisco Systems were worth $47,183,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Dodge & Cox acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $1,950,935,000. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $1,306,395,000. Boston Partners increased its stake 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 buying an additional 23,002,159 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock valued at $768,153,000 after buying an additional 1,365,708 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Cisco Systems by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 16,445,753 shares of the network equipment provider’s stock valued at $555,867,000 after buying an additional 506,489 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Cisco Systems, Inc. (CSCO) traded up 1.52% on Friday, reaching $31.47. 20,756,566 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $31.54 and its 200 day moving average price is $32.53. The firm has a market capitalization of $157.35 billion, a PE ratio of 15.97 and a beta of 1.24. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. Cisco Systems also saw unusually large options trading activity on Wednesday. Investors purchased 21,024 call options on the company. This represents an increase of 113% compared to the average volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same period in the prior year, the business earned $0.57 earnings per share. Cisco Systems’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.69%. Cisco Systems’s payout ratio is 58.29%.
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Several analysts have recently weighed in on CSCO shares. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and raised their target price for the company from $27.00 to $40.00 in a research note on Thursday, April 27th. Barclays PLC restated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Finally, William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $35.31.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 over the last quarter. 0.11% of the stock is owned by company insiders.
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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