KAMES CAPITAL plc lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,889,588 shares of the network equipment provider’s stock after selling 16,950 shares during the period. Cisco Systems accounts for 2.5% of KAMES CAPITAL plc’s portfolio, making the stock its 10th largest holding. KAMES CAPITAL plc owned 0.06% of Cisco Systems worth $90,444,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Holderness Investments Co. grew its stake in shares of Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the last quarter. Congress Asset Management Co. MA lifted its position in Cisco Systems by 4.1% in the first quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock worth $4,982,000 after purchasing an additional 5,796 shares during the period. Pioneer Investment Management Inc. lifted its position in Cisco Systems by 5.2% in the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after purchasing an additional 408,875 shares during the period. Mutual of America Capital Management LLC lifted its position in Cisco Systems by 2.4% in the first quarter. Mutual of America Capital Management LLC now owns 724,037 shares of the network equipment provider’s stock worth $24,472,000 after purchasing an additional 17,135 shares during the period. Finally, First Hawaiian Bank bought a new position in Cisco Systems in the first quarter worth $215,000. Institutional investors own 75.37% of the company’s stock.
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Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 2.05% during mid-day trading on Friday, reaching $33.37. The company’s stock had a trading volume of 28,234,858 shares. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The firm’s 50 day moving average is $31.72 and its 200 day moving average is $32.41. The firm has a market cap of $165.25 billion, a PE ratio of 17.56 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
A number of research analysts have issued reports on the company. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Saturday, July 1st. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a report on Thursday, August 10th. Stifel Nicolaus set a $34.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price for the company. in a research report on Wednesday, August 16th. Fourteen analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.57.
In other news, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock worth $15,347,574 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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