Ausdal Financial Partners Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,897 shares of the network equipment provider’s stock after buying an additional 2,211 shares during the period. Ausdal Financial Partners Inc.’s holdings in Cisco Systems were worth $1,932,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CSCO. HC Financial Advisors Inc. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $1,244,000. Financial Gravity Wealth Inc. acquired a new stake in Cisco Systems in the first quarter valued at approximately $502,000. Strategic Wealth Advisors Group LLC grew its stake in Cisco Systems by 82.4% in the first quarter. Strategic Wealth Advisors Group LLC now owns 178,818 shares of the network equipment provider’s stock valued at $7,669,000 after acquiring an additional 80,802 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Cisco Systems in the first quarter valued at approximately $358,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Cisco Systems by 134.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 156,804 shares of the network equipment provider’s stock valued at $6,725,000 after acquiring an additional 89,855 shares during the period. 71.52% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on CSCO shares. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, July 17th. Morgan Stanley cut their target price on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, July 19th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 target price on shares of Cisco Systems in a research report on Thursday, August 16th. Finally, BMO Capital Markets lifted their target price on Cisco Systems from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Eight research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $48.76.
In related news, Chairman Charles Robbins sold 217,420 shares of Cisco Systems 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now owns 547,019 shares in the company, valued at $26,021,693.83. The disclosure for this sale can be found here. Insiders have sold 450,620 shares of company stock worth $21,322,282 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.
Shares of Cisco Systems stock opened at $47.11 on Friday. The firm has a market cap of $224.01 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.75 and a beta of 1.11. Cisco Systems, Inc. has a 12 month low of $33.67 and a 12 month high of $49.47. 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 (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. Cisco Systems’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.80%. Cisco Systems’s dividend payout ratio (DPR) is currently 56.41%.
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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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