Heritage Way Advisors LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 59,706 shares of the network equipment provider’s stock after selling 656 shares during the period. Heritage Way Advisors LLC’s holdings in Cisco Systems were worth $3,087,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Cardinal Capital Management Inc. increased its position in shares of Cisco Systems by 2.8% during the 1st quarter. Cardinal Capital Management Inc. now owns 504,108 shares of the network equipment provider’s stock worth $26,067,000 after purchasing an additional 13,615 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $1,835,000. Tealwood Asset Management Inc. increased its holdings in shares of Cisco Systems by 80.2% during the 4th quarter. Tealwood Asset Management Inc. now owns 65,171 shares of the network equipment provider’s stock worth $2,916,000 after acquiring an additional 29,009 shares during the last quarter. Doyle Wealth Management increased its holdings in shares of Cisco Systems by 38.5% during the 4th quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after acquiring an additional 7,672 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Cisco Systems by 16.1% during the 4th quarter. IFM Investors Pty Ltd now owns 406,899 shares of the network equipment provider’s stock worth $18,209,000 after acquiring an additional 56,489 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Citigroup boosted their price target on Cisco Systems from $45.00 to $50.00 in a research note on Wednesday, February 10th. Morgan Stanley upped their target price on Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a report on Thursday, February 11th. Raymond James upped their target price on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Finally, Wolfe Research raised Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Thursday. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $50.71.
In other news, CAO Prat Bhatt sold 6,273 shares of Cisco Systems stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $296,148.33. Following the completion of the transaction, the chief accounting officer now directly owns 119,282 shares in the company, valued at $5,631,303.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 3,024 shares of Cisco Systems stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $142,763.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,776 shares of company stock valued at $1,832,205. 0.02% of the stock is owned by company insiders.
NASDAQ:CSCO traded down $0.03 on Thursday, hitting $51.90. The stock had a trading volume of 249,293 shares, compared to its average volume of 21,656,254. The business’s fifty day moving average is $50.26 and its 200 day moving average is $44.86. The company has a market cap of $219.11 billion, a PE ratio of 21.11, a P/E/G ratio of 2.54 and a beta of 0.95. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. Cisco Systems, Inc. has a 52 week low of $35.28 and a 52 week high of $53.18.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.92 billion. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period last year, the business posted $0.77 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 2.85%. Cisco Systems’s payout ratio is 50.68%.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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