Cohen Klingenstein LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,665 shares of the network equipment provider’s stock after buying an additional 10,800 shares during the quarter. Cohen Klingenstein LLC’s holdings in Cisco Systems were worth $7,370,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CSCO. Cordasco Financial Network increased its stake in shares of Cisco Systems by 78.4% during the 3rd 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 last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Cisco Systems by 21.1% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock worth $75,000 after purchasing an additional 258,073 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Cisco Systems by 408.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock worth $77,000 after purchasing an additional 1,254 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $82,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $89,000. 72.55% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CSCO opened at $48.01 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $202.74 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.78 and a beta of 1.23. Cisco Systems, Inc. has a 12-month low of $43.40 and a 12-month high of $58.26. The firm has a 50-day moving average price of $46.45 and a two-hundred day moving average price of $49.14.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The firm had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities analysts expect that Cisco Systems, Inc. will post 2.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, January 2nd. Cisco Systems’s dividend payout ratio is currently 49.12%.
CSCO has been the topic of several recent analyst reports. Royal Bank of Canada set a $56.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Goldman Sachs Group set a $48.00 price target on shares of Cisco Systems and gave the company a “neutral” rating in a research note on Thursday, November 14th. KeyCorp decreased their price target on shares of Cisco Systems from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Barclays upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price target on the stock in a research note on Thursday, December 19th. Finally, Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $56.00 to $52.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $54.69.
In other Cisco Systems news, CEO Charles Robbins sold 208,084 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $44.83, for a total value of $9,328,405.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the completion of the sale, the chief financial officer now directly owns 352,587 shares of the company’s stock, valued at approximately $15,933,406.53. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock valued at $17,474,321 in the last three months. Insiders own 0.03% of the company’s stock.
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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