Cisco Systems, Inc. (NASDAQ:CSCO) Stake Raised by New England Asset Management Inc.

New England Asset Management Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,749 shares of the network equipment provider’s stock after acquiring an additional 15,183 shares during the quarter. Cisco Systems comprises approximately 0.1% of New England Asset Management Inc.’s portfolio, making the stock its 21st largest holding. New England Asset Management Inc.’s holdings in Cisco Systems were worth $6,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the stock. Financial Advisory Service Inc. raised its stake in Cisco Systems by 0.8% during the 1st quarter. Financial Advisory Service Inc. now owns 13,610 shares of the network equipment provider’s stock worth $460,000 after acquiring an additional 114 shares in the last quarter. Commonwealth Financial Services LLC raised its stake in Cisco Systems by 1.2% during the 1st quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock worth $339,000 after acquiring an additional 118 shares in the last quarter. NEXT Financial Group Inc raised its stake in Cisco Systems by 0.3% during the 1st quarter. NEXT Financial Group Inc now owns 43,598 shares of the network equipment provider’s stock worth $1,485,000 after acquiring an additional 126 shares in the last quarter. Blue Fin Capital Inc. raised its stake in Cisco Systems by 0.4% during the 1st quarter. Blue Fin Capital Inc. now owns 31,073 shares of the network equipment provider’s stock worth $1,050,000 after acquiring an additional 130 shares in the last quarter. Finally, Madrona Financial Services LLC raised its stake in Cisco Systems by 2.1% during the 1st quarter. Madrona Financial Services LLC now owns 7,407 shares of the network equipment provider’s stock worth $250,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

WARNING: “Cisco Systems, Inc. (NASDAQ:CSCO) Stake Raised by New England Asset Management Inc.” was first reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this article on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this article can be viewed at https://www.truebluetribune.com/2017/09/17/new-england-asset-management-inc-buys-15183-shares-of-cisco-systems-inc-csco.html.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.78% during trading on Friday, reaching $32.44. 29,336,087 shares of the company traded hands. The firm has a market capitalization of $160.64 billion, a PE ratio of 17.07 and a beta of 1.19. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a 50-day moving average price of $31.66 and a 200-day moving average price of $32.46.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.

In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,138 shares of company stock valued at $13,239,624. 0.11% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on the stock. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Saturday, July 1st. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price target on the stock. in a research note on Wednesday. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Finally, Robert W. Baird restated a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average price target of $35.57.

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply