Halsey Associates Inc. CT cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,404 shares of the network equipment provider’s stock after selling 10,346 shares during the period. Halsey Associates Inc. CT’s holdings in Cisco Systems were worth $3,116,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in shares of Cisco Systems during the 2nd quarter valued at about $301,000. HRT Financial LLC grew its position in shares of Cisco Systems by 234.6% during the 2nd quarter. HRT Financial LLC now owns 25,642 shares of the network equipment provider’s stock valued at $1,103,000 after acquiring an additional 17,979 shares during the period. Mutual Advisors LLC grew its position in shares of Cisco Systems by 9.3% during the 2nd quarter. Mutual Advisors LLC now owns 102,553 shares of the network equipment provider’s stock valued at $4,413,000 after acquiring an additional 8,700 shares during the period. Putnam Investments LLC grew its position in shares of Cisco Systems by 44.9% during the 2nd quarter. Putnam Investments LLC now owns 7,610,821 shares of the network equipment provider’s stock valued at $327,494,000 after acquiring an additional 2,359,159 shares during the period. Finally, Bridges Investment Management Inc. grew its position in shares of Cisco Systems by 2.9% during the 2nd quarter. Bridges Investment Management Inc. now owns 120,597 shares of the network equipment provider’s stock valued at $5,189,000 after acquiring an additional 3,450 shares during the period. Hedge funds and other institutional investors own 69.52% of the company’s stock.
A number of equities research analysts have recently commented on CSCO shares. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Goldman Sachs Group restated a “buy” rating and set a $56.00 target price on shares of Cisco Systems in a research report on Thursday, August 16th. BMO Capital Markets raised 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. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 16th. Finally, Cowen lifted their price objective on Cisco Systems from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $50.26.
In other news, SVP Prat Bhatt sold 33,950 shares of the business’s stock in a transaction that occurred 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 approximately $4,046,686.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark D. Chandler sold 4,373 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $44.89, for a total value of $196,303.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 586,943 shares of company stock worth $27,718,423. Insiders own 0.03% of the company’s stock.
Shares of Cisco Systems stock opened at $46.44 on Friday. The company has a market cap of $228.11 billion, a PE ratio of 19.85, a P/E/G ratio of 2.77 and a beta of 1.15. Cisco Systems, Inc. has a 1-year low of $37.35 and a 1-year high of $49.47. 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 (NASDAQ:CSCO) last issued 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. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.
The business 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 dividend of $0.33 per share. 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 dividend payout ratio 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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