Bray Capital Advisors Has $230,000 Position in Cisco Systems, Inc. (CSCO)

Bray Capital Advisors maintained its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,337 shares of the network equipment provider’s stock at the close of the 2nd quarter. Bray Capital Advisors’ holdings in Cisco Systems were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Washington Trust Bank boosted its position in shares of Cisco Systems by 2.5% during the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after buying an additional 2,726 shares during the last quarter. Holderness Investments Co. boosted its position in shares of Cisco Systems by 12.1% during the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after buying an additional 7,186 shares during the last quarter. Congress Asset Management Co. MA boosted its position in shares of Cisco Systems by 4.1% during the first quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock valued at $4,982,000 after buying an additional 5,796 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in shares of Cisco Systems by 5.2% during the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after buying an additional 408,875 shares during the last quarter. Finally, Investment House LLC boosted its position in shares of Cisco Systems by 7.5% during the second quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock valued at $2,673,000 after buying an additional 5,975 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts have weighed in on CSCO shares. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price on the stock in a research note on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a report on Monday, September 11th. Drexel Hamilton restated a “buy” rating and set a $39.00 price target on shares of Cisco Systems in a report on Sunday, June 25th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Thursday, August 17th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.57.

Cisco Systems, Inc. (NASDAQ CSCO) traded up 2.05% during mid-day trading on Friday, reaching $33.37. The company’s stock had a trading volume of 28,234,858 shares. The stock’s 50 day moving average price is $31.72 and its 200 day moving average price is $32.41. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a market capitalization of $165.25 billion, a P/E ratio of 17.56 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 485,138 shares of company stock worth $15,347,574. Company insiders own 0.11% of the company’s stock.

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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