Allegis Investment Advisors LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,881 shares of the network equipment provider’s stock, valued at approximately $309,000.
Other large investors have also recently made changes to their positions in the company. Eads & Heald Investment Counsel boosted its stake in Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after buying an additional 5,765 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after buying an additional 14,395 shares in the last quarter. Washington Trust Bank boosted its stake in Cisco Systems by 2.5% in the 2nd 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 in the last quarter. Holderness Investments Co. boosted its stake in Cisco Systems by 12.1% in the 1st 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 in the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake in Cisco Systems by 5.2% in the 1st 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 in the last quarter. 75.22% of the stock is currently owned by institutional investors.
Cisco Systems, Inc. (CSCO) opened at $33.95 on Tuesday. The firm has a market capitalization of $168,311.06, a P/E ratio of 15.66, a PEG ratio of 2.97 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.75.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. research analysts expect that Cisco Systems, Inc. will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
A number of equities analysts have commented on CSCO shares. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research note on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Thursday, August 17th. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research note on Thursday, August 17th. Finally, Bank of America Corporation reissued a “neutral” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.31.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Karen Walker sold 23,110 shares of the firm’s 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 in the company, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 485,138 shares of company stock worth $15,347,574. Corporate insiders own 0.05% of the company’s stock.
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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).
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