Mraz Amerine & Associates Inc. held its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,934 shares of the network equipment provider’s stock at the close of the second quarter. Mraz Amerine & Associates Inc.’s holdings in Cisco Systems were worth $687,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. IBM Retirement Fund grew its stake in Cisco Systems by 72.1% in the second quarter. IBM Retirement Fund now owns 122,651 shares of the network equipment provider’s stock valued at $4,290,000 after acquiring an additional 51,384 shares during the period. Boston Financial Mangement LLC grew its stake in Cisco Systems by 1.2% in the second quarter. Boston Financial Mangement LLC now owns 74,433 shares of the network equipment provider’s stock valued at $2,330,000 after acquiring an additional 894 shares during the period. Eastern Bank boosted its position in shares of Cisco Systems by 1.8% during the second quarter. Eastern Bank now owns 117,033 shares of the network equipment provider’s stock worth $3,664,000 after buying an additional 2,088 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Cisco Systems by 2.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 247,100 shares of the network equipment provider’s stock worth $7,734,000 after buying an additional 5,250 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Cisco Systems by 5.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 41,765 shares of the network equipment provider’s stock worth $1,307,000 after buying an additional 2,175 shares during the period. 75.38% of the stock is owned by hedge funds and other institutional investors.
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In related news, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 485,138 shares of company stock worth $15,347,574. Insiders own 0.11% of the company’s stock.
CSCO has been the subject of several recent research reports. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective for the company in a research report on Wednesday, September 6th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Credit Suisse Group reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Monday, June 26th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Wednesday, September 6th. Fifteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.30.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at 33.26 on Friday. The firm has a 50 day moving average price of $32.70 and a 200-day moving average price of $32.35. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $164.70 billion, a P/E ratio of 17.51 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Analysts forecast that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. Cisco Systems’s payout ratio is currently 60.73%.
About Cisco Systems
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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