Weaver Consulting Group acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,614 shares of the network equipment provider’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Holderness Investments Co. grew its position in shares of Cisco Systems by 2.3% in the 3rd quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock valued at $3,343,000 after buying an additional 1,576 shares during the last quarter. Johnson Financial Group Inc. grew its position in shares of Cisco Systems by 12.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock valued at $6,950,000 after buying an additional 15,389 shares during the last quarter. Truewealth LLC grew its position in shares of Cisco Systems by 6.7% in the 4th quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock valued at $614,000 after buying an additional 890 shares during the last quarter. Lynch & Associates IN grew its position in shares of Cisco Systems by 1.1% in the 4th quarter. Lynch & Associates IN now owns 143,122 shares of the network equipment provider’s stock valued at $6,201,000 after buying an additional 1,544 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Cisco Systems by 107.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 407,383 shares of the network equipment provider’s stock valued at $17,651,000 after buying an additional 210,659 shares during the last quarter. Hedge funds and other institutional investors own 74.49% of the company’s stock.
In other news, Director Wesley G. Bush purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $55.74 per share, with a total value of $557,400.00. Following the purchase, the director now owns 3,017 shares in the company, valued at $168,167.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,129 shares of company stock worth $5,159,754. 0.03% of the stock is owned by company insiders.
Shares of NASDAQ:CSCO opened at $56.13 on Thursday. The stock has a market capitalization of $239.94 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $57.56.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
A number of research firms have commented on CSCO. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Jefferies Financial Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. MKM Partners upped their price target on Cisco Systems to $56.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, May 21st. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.92.
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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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