First Fiduciary Investment Counsel Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 543,743 shares of the network equipment provider’s stock after selling 22,754 shares during the quarter. Cisco Systems comprises approximately 4.5% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its largest position. First Fiduciary Investment Counsel Inc.’s holdings in Cisco Systems were worth $23,397,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CSCO. JJJ Advisors Inc. acquired a new position 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 last quarter. Cerebellum GP LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $174,000. Landaas & Co. WI ADV acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $184,000. Finally, Amussen Hunsaker Associates LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at $196,000. Institutional investors and hedge funds own 69.52% of the company’s stock.
CSCO 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. Cisco Systems, Inc. has a twelve month low of $37.35 and a twelve month high of $49.47. The stock has a market capitalization of $228.11 billion, a PE ratio of 19.85, a PEG ratio of 2.77 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, January 3rd. Cisco Systems’s payout ratio is 56.41%.
In other news, SVP Irving Tan sold 28,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $48.43, for a total value of $1,356,040.00. Following the sale, the senior vice president now owns 188,853 shares of the company’s stock, valued at approximately $9,146,150.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 4,373 shares of the company’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 586,943 shares of company stock worth $27,718,423. 0.03% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, October 3rd. Piper Jaffray Companies set a $53.00 price objective on shares of Cisco Systems and gave the company an “overweight” rating in a research note on Monday, October 1st. UBS Group set a $56.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. Morgan Stanley increased their price objective on shares of Cisco Systems from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, September 4th. Finally, Robert W. Baird restated an “outperform” rating and issued a $53.00 price objective on shares of Cisco Systems in a research note on Thursday, November 29th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average price target of $50.26.
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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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