Poplar Forest Capital LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 65,298 shares of the network equipment provider’s stock after selling 3,075 shares during the period. Poplar Forest Capital LLC’s holdings in Cisco Systems were worth $3,574,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in CSCO. Fisher Asset Management LLC boosted its holdings in shares of Cisco Systems by 36.0% during the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after buying an additional 7,238,755 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of Cisco Systems by 5,677.4% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after buying an additional 3,553,686 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Cisco Systems by 28.5% during the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the period. Railway Pension Investments Ltd bought a new stake in shares of Cisco Systems during the 2nd quarter worth about $10,371,000. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Cisco Systems by 241.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock worth $97,665,000 after buying an additional 1,822,091 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:CSCO opened at $47.91 on Friday. The firm has a 50 day moving average of $54.34 and a 200-day moving average of $53.77. The stock has a market capitalization of $205.18 billion, a PE ratio of 16.81, a PEG ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is 49.12%.
In related news, Director Steven M. West sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the transaction, the director now directly owns 5,263 shares in the company, valued at approximately $295,833.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total transaction of $77,141.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,925 shares of company stock valued at $4,976,706. 0.03% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the stock. JPMorgan Chase & Co. set a $62.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, August 12th. Robert W. Baird reissued a “buy” rating and issued a $57.00 price objective on shares of Cisco Systems in a report on Monday, August 12th. ValuEngine downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Oppenheimer boosted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, MKM Partners cut their price objective on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $56.59.
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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