GW&K Investment Management LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 809,865 shares of the network equipment provider’s stock after acquiring an additional 3,126 shares during the quarter. GW&K Investment Management LLC’s holdings in Cisco Systems were worth $40,015,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in CSCO. Evolution Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter valued at $33,000. Lowe Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter valued at $38,000. Personal Wealth Partners purchased a new position in Cisco Systems during the second quarter valued at $44,000. Ashburton Jersey Ltd purchased a new position in Cisco Systems during the second quarter valued at $49,000. Finally, Cordasco Financial Network lifted its position in Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after buying an additional 502 shares during the period. 73.27% of the stock is owned by institutional investors.
Several equities analysts have commented on the company. MKM Partners lowered their price objective on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Evercore ISI assumed coverage on Cisco Systems in a research report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price objective for the company. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. KeyCorp lowered their price objective on Cisco Systems from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Goldman Sachs Group lowered Cisco Systems from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $48.00 in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.92.
In other news, EVP Mark D. Chandler sold 10,733 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.05, for a total transaction of $537,186.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Goeckeler sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total value of $3,445,400.00. Following the sale, the executive vice president now directly owns 429,398 shares in the company, valued at $21,134,969.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,130 shares of company stock worth $9,359,179. 0.03% of the stock is owned by insiders.
Shares of CSCO traded up $0.41 during trading hours on Friday, hitting $48.83. The company had a trading volume of 14,406,400 shares, compared to its average volume of 20,421,934. The firm has a fifty day moving average price of $47.56 and a 200-day moving average price of $52.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The stock has a market capitalization of $202.69 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the previous year, the firm earned $0.70 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.35 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio is presently 49.12%.
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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