Kidder Stephen W lowered its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,750 shares of the network equipment provider’s stock after selling 100 shares during the period. Cisco Systems makes up about 1.3% of Kidder Stephen W’s holdings, making the stock its 28th largest position. Kidder Stephen W’s holdings in Cisco Systems were worth $3,321,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. PGGM Investments boosted its stake in Cisco Systems by 1.5% in the first quarter. PGGM Investments now owns 4,383,464 shares of the network equipment provider’s stock valued at $124,797,000 after buying an additional 65,662 shares in the last quarter. Vicus Capital boosted its stake in Cisco Systems by 50.2% in the first quarter. Vicus Capital now owns 25,647 shares of the network equipment provider’s stock valued at $730,000 after buying an additional 8,574 shares in the last quarter. Bellecapital International Ltd. boosted its stake in Cisco Systems by 3.6% in the first quarter. Bellecapital International Ltd. now owns 195,061 shares of the network equipment provider’s stock valued at $5,298,000 after buying an additional 6,820 shares in the last quarter. Douglas Lane & Associates LLC bought a new stake in Cisco Systems during the first quarter valued at approximately $65,154,000. Finally, Duncker Streett & Co. Inc. boosted its stake in Cisco Systems by 0.8% in the first quarter. Duncker Streett & Co. Inc. now owns 46,267 shares of the network equipment provider’s stock valued at $1,317,000 after buying an additional 371 shares in the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.910% on Tuesday, reaching $30.495. The company’s stock had a trading volume of 3,264,085 shares. The stock has a market capitalization of $152.91 billion, a P/E ratio of 14.453 and a beta of 1.48. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95. The company has a 50 day moving average of $31.26 and a 200 day moving average of $29.54.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. The business 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 company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Equities research analysts expect that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s payout ratio is currently 49.06%.
Several brokerages recently issued reports on CSCO. RBC Capital Markets reiterated an “outperform” rating and issued a $35.00 price target on shares of Cisco Systems in a research note on Sunday, September 4th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price target for the company. in a research note on Monday, September 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a research note on Tuesday, September 6th. Raymond James Financial Inc. increased their price target on shares of Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research note on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.56.
In related news, SVP Mark D. Chandler sold 62,910 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the transaction, the senior vice president now owns 286,628 shares of the company’s stock, valued at $9,000,119.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven M. West sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total value of $453,000.00. Following the transaction, the director now directly owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
About Cisco Systems
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.