Todays Report: The Cisco Systems Inc. (CSCO) Stake Increased by Gilman Hill Asset Management LLC

The Cisco Systems Inc. (CSCO) Stake Increased by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC boosted its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 24,940 shares of the network equipment provider’s stock after buying an additional 986 shares during the period. Gilman Hill Asset Management LLC’s holdings in Cisco Systems were worth $716,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Parasol Investment Management LLC boosted its stake in Cisco Systems by 94.1% in the second quarter. Parasol Investment Management LLC now owns 5,240 shares of the network equipment provider’s stock worth $150,000 after buying an additional 2,540 shares during the period. Vigilant Capital Management LLC boosted its stake in Cisco Systems by 995.5% in the second quarter. Vigilant Capital Management LLC now owns 5,839 shares of the network equipment provider’s stock worth $168,000 after buying an additional 5,306 shares during the period. D. Scott Neal Inc. boosted its stake in Cisco Systems by 48.0% in the second quarter. D. Scott Neal Inc. now owns 6,171 shares of the network equipment provider’s stock worth $177,000 after buying an additional 2,000 shares during the period. Exane Derivatives boosted its stake in Cisco Systems by 76.1% in the first quarter. Exane Derivatives now owns 7,750 shares of the network equipment provider’s stock worth $190,000 after buying an additional 3,350 shares during the period. Finally, Kings Point Capital Management boosted its stake in Cisco Systems by 33.2% in the first quarter. Kings Point Capital Management now owns 6,715 shares of the network equipment provider’s stock worth $191,000 after buying an additional 1,672 shares during the period. Institutional investors own 75.00% of the company’s stock.

Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.56% during trading on Thursday, reaching $30.17. 24,286,555 shares of the company’s stock traded hands. The company has a 50 day moving average of $31.35 and a 200 day moving average of $29.49. The firm has a market cap of $151.28 billion, a price-to-earnings ratio of 14.30 and a beta of 1.49. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Equities research analysts predict that Cisco Systems Inc. will post $2.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio is currently 49.06%.

Several equities research analysts recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research note on Wednesday, October 5th. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 target price for the company in a research note on Monday, October 3rd. Bank of America Corp. reiterated a “neutral” rating and issued a $33.00 target price on shares of Cisco Systems in a research note on Monday, September 26th. RBC Capital Markets reiterated an “outperform” rating and issued a $35.00 target price on shares of Cisco Systems in a research note on Friday, September 23rd. Finally, Raymond James Financial Inc. increased their target price on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and an average price target of $32.50.

In other Cisco Systems news, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares in the company, valued at $6,998,308.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven M. West sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Cisco Systems Company Profile

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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