Kathmere Capital Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 16.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 29,093 shares of the network equipment provider’s stock after selling 5,921 shares during the period. Kathmere Capital Management LLC’s holdings in Cisco Systems were worth $1,505,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Steward Financial Group LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in Cisco Systems during the first quarter valued at approximately $32,000. Fortis Capital Advisors LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $34,000. Carmel Capital Partners LLC bought a new stake in Cisco Systems during the first quarter valued at approximately $35,000. Finally, Tucker Asset Management LLC bought a new stake in Cisco Systems during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on CSCO. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Jefferies Financial Group boosted their price objective on shares of Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. 51job restated an “initiates” rating on shares of Cisco Systems in a report on Friday, June 30th. Oppenheimer restated an “outperform” rating and issued a $58.00 price objective on shares of Cisco Systems in a report on Thursday, August 17th. Finally, BNP Paribas started coverage on shares of Cisco Systems in a report on Thursday, July 20th. They issued an “underperform” rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.43.
Cisco Systems Stock Down 0.6 %
Shares of Cisco Systems stock opened at $56.04 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $54.20 and its two-hundred day simple moving average is $51.17. The company has a market cap of $227.23 billion, a P/E ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.97. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $58.19.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.58 EPS for the current year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, October 3rd. Cisco Systems’s payout ratio is currently 50.81%.
Insider Buying and Selling at Cisco Systems
In related news, CEO Charles Robbins sold 17,687 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the transaction, the chief executive officer now directly owns 716,191 shares in the company, valued at approximately $39,505,095.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.16, for a total transaction of $975,614.92. Following the completion of the transaction, the chief executive officer now owns 716,191 shares of the company’s stock, valued at $39,505,095.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the transaction, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is currently owned by company insiders.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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