Suffolk Capital Management LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 348,971 shares of the network equipment provider’s stock, valued at approximately $11,736,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FDx Advisors Inc. boosted its holdings in Cisco Systems by 13.0% in the third quarter. FDx Advisors Inc. now owns 380,759 shares of the network equipment provider’s stock valued at $12,805,000 after acquiring an additional 43,835 shares in the last quarter. Pzena Investment Management LLC lifted its position in Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock valued at $84,648,000 after buying an additional 10,265 shares during the period. Global X MANAGEMENT CO LLC lifted its position in Cisco Systems by 16.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 75,639 shares of the network equipment provider’s stock valued at $2,544,000 after buying an additional 10,801 shares during the period. Essex Financial Services Inc. raised its position in shares of Cisco Systems by 4.6% in the 3rd quarter. Essex Financial Services Inc. now owns 94,464 shares of the network equipment provider’s stock worth $3,177,000 after purchasing an additional 4,122 shares during the last quarter. Finally, Pax World Management LLC raised its position in shares of Cisco Systems by 0.3% in the 3rd quarter. Pax World Management LLC now owns 926,609 shares of the network equipment provider’s stock worth $31,162,000 after purchasing an additional 2,800 shares during the last quarter. 75.59% of the stock is currently owned by institutional investors and hedge funds.
CSCO has been the subject of a number of recent analyst reports. Oppenheimer reissued a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Friday, October 20th. Wells Fargo & Co reiterated an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, January 17th. ValuEngine upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price target for the company in a research note on Wednesday, December 27th. Thirteen analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.80.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $41.66 on Tuesday. The company has a market capitalization of $205,950.00, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 3.73 and a beta of 1.19. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $41.66.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. equities research analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now directly owns 113,154 shares in the company, valued at $4,299,852. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 348,643 shares of company stock worth $12,892,271. Corporate insiders own 0.05% of the company’s stock.
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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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