Vestmark Advisory Solutions Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,265 shares of the network equipment provider’s stock after purchasing an additional 11,121 shares during the period. Cisco Systems makes up about 1.1% of Vestmark Advisory Solutions Inc.’s holdings, making the stock its 7th biggest position. Vestmark Advisory Solutions Inc.’s holdings in Cisco Systems were worth $6,980,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $38,000. Personal Wealth Partners bought a new position in shares of Cisco Systems in the second quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new position in shares of Cisco Systems in the second quarter valued at approximately $49,000. Finally, Cordasco Financial Network lifted its holdings in shares of Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after purchasing an additional 502 shares in the last quarter. 73.27% of the stock is owned by institutional investors and hedge funds.
CSCO has been the topic of a number of recent analyst reports. MKM Partners dropped their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Citigroup dropped their price target on Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Goldman Sachs Group lowered Cisco Systems from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $48.00 in a report on Thursday, October 10th. Nomura boosted their target price on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Raymond James restated an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $55.64.
In other news, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction on 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. Over the last quarter, insiders sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is owned by company insiders.
Shares of NASDAQ CSCO traded down $0.73 during mid-day trading on Monday, hitting $48.10. The company had a trading volume of 19,590,594 shares, compared to its average volume of 20,418,154. The company has a market capitalization of $202.69 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.30 and a beta of 1.28. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $47.54 and its 200-day moving average price is $52.00.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
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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