Colrain Capital LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,628 shares of the network equipment provider’s stock after selling 10,072 shares during the quarter. Cisco Systems makes up approximately 3.0% of Colrain Capital LLC’s portfolio, making the stock its 16th largest position. Colrain Capital LLC’s holdings in Cisco Systems were worth $2,566,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Cisco Systems by 47.1% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after purchasing an additional 38,725 shares during the period. Covington Investment Advisors Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth approximately $5,331,000. Winfield Associates Inc. boosted its holdings in shares of Cisco Systems by 121.0% during the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after purchasing an additional 2,557 shares during the period. United Capital Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 2.8% during the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock worth $89,158,000 after purchasing an additional 56,027 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Cisco Systems by 29.6% during the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after purchasing an additional 478,673 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.
In other news, EVP Mark D. Chandler sold 31,842 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $1,502,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.28, for a total transaction of $10,279,617.60. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock valued at $21,322,282 over the last 90 days. 0.05% of the stock is owned by corporate insiders.
CSCO has been the subject of several research reports. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Cowen lifted their target price on shares of Cisco Systems from $51.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. JPMorgan Chase & Co. set a $59.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, UBS Group set a $56.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $48.76.
Shares of Cisco Systems stock opened at $45.71 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. Cisco Systems, Inc. has a 1-year low of $33.32 and a 1-year high of $49.47. The firm has a market capitalization of $234.37 billion, a PE ratio of 19.53, a PEG ratio of 2.87 and a beta of 1.07.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the previous year, the company earned $0.61 earnings per share. Cisco Systems’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.
Cisco Systems 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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