Putnam Investments LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 44.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,610,821 shares of the network equipment provider’s stock after purchasing an additional 2,359,159 shares during the quarter. Cisco Systems makes up 0.7% of Putnam Investments LLC’s holdings, making the stock its 26th biggest position. Putnam Investments LLC owned about 0.16% of Cisco Systems worth $327,494,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Financial Gravity Wealth Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at $502,000. Gifford Fong Associates acquired a new position in shares of Cisco Systems in the 1st quarter valued at $12,290,000. Guardian Investment Management increased its position in shares of Cisco Systems by 7.2% in the 1st quarter. Guardian Investment Management now owns 38,650 shares of the network equipment provider’s stock valued at $1,657,000 after acquiring an additional 2,600 shares during the period. Weil Company Inc. increased its position in shares of Cisco Systems by 42.8% in the 1st quarter. Weil Company Inc. now owns 38,334 shares of the network equipment provider’s stock valued at $1,644,000 after acquiring an additional 11,487 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Cisco Systems in the 1st quarter valued at $275,000. 69.52% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was 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 in the company, valued at approximately $34,027,896. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. Insiders have sold a total of 586,943 shares of company stock worth $27,718,423 over the last ninety days. 0.03% of the stock is owned by insiders.
Shares of CSCO opened at $46.44 on Friday. The stock has a market cap of $233.12 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.83 and a beta of 1.15. 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 fifty-two week low of $37.35 and a fifty-two week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current year.
The business also recently declared 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 dividend payout ratio is currently 56.41%.
CSCO has been the topic of several research reports. JPMorgan Chase & Co. set a $59.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 16th. KeyCorp upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 15th. Loop Capital raised Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 target price on the stock in a research report on Thursday, November 15th. They noted that the move was a valuation call. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, October 3rd. Finally, Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Tuesday, September 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $50.26.
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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