Sheaff Brock Investment Advisors LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,250 shares of the network equipment provider’s stock after acquiring an additional 12,517 shares during the quarter. Cisco Systems makes up about 0.9% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 16th biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Cisco Systems were worth $8,789,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Summit Trail Advisors LLC increased its stake in Cisco Systems by 4,313.3% in the 1st quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock valued at $4,814,000 after buying an additional 4,705,284 shares during the period. SG Americas Securities LLC increased its stake in Cisco Systems by 565.8% in the 1st quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock valued at $194,382,000 after buying an additional 3,851,446 shares during the period. BlackRock Inc. increased its stake in Cisco Systems by 1.1% in the 1st quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock valued at $14,539,904,000 after buying an additional 3,630,488 shares during the period. OppenheimerFunds Inc. increased its stake in Cisco Systems by 61.0% in the 1st quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock valued at $393,888,000 after buying an additional 3,479,165 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Cisco Systems by 50.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,785,356 shares of the network equipment provider’s stock valued at $248,135,000 after buying an additional 1,943,896 shares during the period. 71.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $3,304,000.00. Following the sale, the chief financial officer now directly owns 720,930 shares in the company, valued at approximately $34,027,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction dated 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 a total of 450,620 shares of company stock worth $21,322,282 over the last quarter. Insiders own 0.05% of the company’s stock.
NASDAQ:CSCO opened at $45.71 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. Cisco Systems, Inc. has a fifty-two week low of $33.32 and a fifty-two week high of $49.47. The firm has a market cap of $234.37 billion, a PE ratio of 19.53, a P/E/G ratio of 2.87 and a beta of 1.07.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.89%. Cisco Systems’s dividend payout ratio is presently 56.41%.
CSCO has been the topic of several recent research reports. BidaskClub cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, July 17th. Morgan Stanley dropped their price objective on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, July 19th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, August 16th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average price target of $48.76.
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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