Gilbert & Cook Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,129 shares of the network equipment provider’s stock after selling 1,221 shares during the period. Gilbert & Cook Inc.’s holdings in Cisco Systems were worth $402,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Evolution Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems during the second quarter worth approximately $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems during the second quarter worth approximately $49,000. Finally, Cordasco Financial Network raised its position in shares of Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares during the period. Institutional investors and hedge funds own 73.27% of the company’s stock.
In other Cisco Systems news, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction dated 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 owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders have sold a total of 193,130 shares of company stock worth $9,359,179 in the last three months. 0.03% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on CSCO shares. BidaskClub upgraded Cisco Systems from a “strong sell” rating to a “sell” rating in a report on Thursday. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the stock a “buy” rating in a report on Monday, August 12th. Raymond James reiterated an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. MKM Partners decreased their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Evercore ISI started coverage on Cisco Systems in a report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $55.92.
NASDAQ:CSCO traded up $0.41 during trading on Friday, reaching $48.83. The company’s stock had a trading volume of 14,406,400 shares, compared to its average volume of 20,421,934. The firm has a 50 day moving average of $47.56 and a 200-day moving average of $52.07. The firm has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. 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 12 month low of $40.25 and a 12 month high of $58.26.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend 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 (DPR) is 49.12%.
Cisco Systems Company 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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