B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 55.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 51,662 shares of the network equipment provider’s stock after selling 64,935 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Cisco Systems were worth $2,223,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. JJJ Advisors Inc. acquired a new stake in Cisco Systems during the 2nd quarter valued at $110,000. Legacy Advisors LLC raised its stake in Cisco Systems by 597.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after purchasing an additional 2,940 shares during the period. Cerebellum GP LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at $174,000. Landaas & Co. WI ADV acquired a new stake in Cisco Systems during the 2nd quarter valued at $184,000. Finally, Amussen Hunsaker Associates LLC acquired a new stake in Cisco Systems during the 1st quarter valued at $196,000. Institutional investors own 69.52% of the company’s stock.
Cisco Systems stock opened at $46.44 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. The firm has a market cap of $228.11 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. Cisco Systems, Inc. has a one year low of $37.35 and a one year high of $49.47.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, January 3rd. Cisco Systems’s payout ratio is 56.41%.
In other Cisco Systems news, SVP Irving Tan sold 28,000 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the transaction, the senior vice president now directly owns 188,853 shares of the company’s stock, valued at $9,146,150.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 33,950 shares of the stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the transaction, the senior vice president now directly owns 90,207 shares in the company, valued at $4,046,686.02. The disclosure for this sale can be found here. Insiders have sold 586,943 shares of company stock worth $27,718,423 over the last three months. Company insiders own 0.03% of the company’s stock.
Several analysts have issued reports on the stock. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Tuesday, September 11th. Raymond James upped their price target on shares of Cisco Systems from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, November 15th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a research note on Thursday, August 16th. Finally, Credit Suisse Group upped their price target on shares of Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Seven equities 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. The stock currently has an average rating of “Buy” and an average price target of $50.26.
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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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