Independent Advisor Alliance grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,942 shares of the network equipment provider’s stock after buying an additional 5,111 shares during the quarter. Independent Advisor Alliance’s holdings in Cisco Systems were worth $2,059,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Cisco Systems by 47.1% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after buying an additional 38,725 shares during the period. Covington Investment Advisors Inc. acquired a new position in shares of Cisco Systems in the first quarter valued at approximately $5,331,000. Winfield Associates Inc. boosted its holdings in shares of Cisco Systems by 121.0% in the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after buying an additional 2,557 shares during the period. United Capital Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 2.8% in the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after buying an additional 56,027 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Cisco Systems by 29.6% in the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares during the period. Institutional investors own 71.52% of the company’s stock.
NASDAQ CSCO opened at $47.11 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 1 year low of $33.67 and a 1 year high of $49.47. The firm has a market cap of $230.76 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.83 and a beta of 1.11.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 56.41%.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the sale, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at $34,027,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. 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 ninety days. Insiders own 0.03% of the company’s stock.
A number of analysts have recently commented on CSCO shares. 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 report on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 16th. Morgan Stanley cut 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 report on Thursday, July 19th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Finally, BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Eight equities 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $48.76.
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 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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