Main Street Research LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,000 shares of the network equipment provider’s stock after acquiring an additional 6,634 shares during the period. Main Street Research LLC’s holdings in Cisco Systems were worth $1,492,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CSCO. Silicon Hills Wealth Management LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $366,000. Pacer Advisors Inc. boosted its position in shares of Cisco Systems by 72.2% during the 2nd quarter. Pacer Advisors Inc. now owns 779,434 shares of the network equipment provider’s stock valued at $36,353,000 after acquiring an additional 326,678 shares during the last quarter. Lucia Wealth Services LLC boosted its position in shares of Cisco Systems by 35.1% during the 2nd quarter. Lucia Wealth Services LLC now owns 5,009 shares of the network equipment provider’s stock valued at $234,000 after acquiring an additional 1,302 shares during the last quarter. V Wealth Advisors LLC boosted its position in shares of Cisco Systems by 18.9% during the 2nd quarter. V Wealth Advisors LLC now owns 70,443 shares of the network equipment provider’s stock valued at $3,285,000 after acquiring an additional 11,203 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. boosted its position in shares of Cisco Systems by 4.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 7,833 shares of the network equipment provider’s stock valued at $365,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 71.36% of the company’s stock.
Shares of CSCO stock opened at $47.10 on Friday. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89. The stock’s 50-day moving average is $46.07 and its 200 day moving average is $44.16. The company has a market cap of $196.08 billion, a P/E ratio of 15.69, a PEG ratio of 3.01 and a beta of 0.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter last year, the company earned $0.78 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Thursday, July 2nd. Cisco Systems’s payout ratio is currently 50.53%.
Several analysts recently weighed in on CSCO shares. Oppenheimer started coverage on Cisco Systems in a report on Thursday, May 28th. They set a “buy” rating and a $46.00 price target on the stock. Wolfe Research started coverage on Cisco Systems in a report on Friday, July 24th. They set an “outperform” rating and a $54.00 price target on the stock. UBS Group decreased their price target on Cisco Systems from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $48.00 to $55.00 in a report on Tuesday, June 16th. Finally, Nomura Instinet increased their price target on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.33.
In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the sale, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.
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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