CCM Investment Advisers LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 280,144 shares of the network equipment provider’s stock after selling 3,380 shares during the period. Cisco Systems accounts for 2.5% of CCM Investment Advisers LLC’s holdings, making the stock its 6th largest position. CCM Investment Advisers LLC’s holdings in Cisco Systems were worth $13,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. PDS Planning Inc lifted its position in shares of Cisco Systems by 35.6% during the 3rd quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock worth $247,000 after buying an additional 1,336 shares during the period. Allstate Corp bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $241,000. Dearborn Partners LLC lifted its position in shares of Cisco Systems by 8.2% during the 3rd quarter. Dearborn Partners LLC now owns 20,948 shares of the network equipment provider’s stock worth $1,019,000 after buying an additional 1,585 shares during the period. Fisher Asset Management LLC lifted its position in shares of Cisco Systems by 11.9% during the 3rd quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock worth $977,856,000 after buying an additional 2,129,952 shares during the period. Finally, Lau Associates LLC lifted its position in shares of Cisco Systems by 77.1% during the 3rd quarter. Lau Associates LLC now owns 19,115 shares of the network equipment provider’s stock worth $930,000 after buying an additional 8,324 shares during the period. Institutional investors and hedge funds own 69.30% of the company’s stock.
NASDAQ CSCO opened at $47.26 on Wednesday. The firm has a market capitalization of $228.11 billion, a PE ratio of 18.86, a PEG ratio of 2.77 and a beta of 1.16. Cisco Systems, Inc. has a 52 week low of $37.35 and a 52 week high of $49.47. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.32 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is currently 56.41%.
In related news, Director M Michele Burns sold 4,744 shares of Cisco Systems stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total transaction of $209,020.64. Following the completion of the sale, the director now directly owns 74,164 shares of the company’s stock, valued at $3,267,665.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 33,950 shares of Cisco Systems stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $44.86, for a total value of $1,522,997.00. Following the sale, the senior vice president now directly owns 90,207 shares of the company’s stock, valued at $4,046,686.02. The disclosure for this sale can be found here. Insiders sold a total of 166,067 shares of company stock valued at $7,804,662 over the last three months. Insiders own 0.03% of the company’s stock.
Several equities analysts recently commented on CSCO shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, November 15th. KeyCorp raised their target price on Cisco Systems from $52.00 to $53.00 and gave the stock 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 price target for the company in a report on Thursday, November 15th. They noted that the move was a valuation call. Nomura cut Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Friday, December 14th. Finally, Credit Suisse Group set a $44.00 price target on Cisco Systems and gave the company a “hold” rating in a report on Wednesday, January 16th. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $51.05.
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Cisco Systems 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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