Guinness Asset Management Ltd boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 25.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 474,871 shares of the network equipment provider’s stock after acquiring an additional 96,500 shares during the quarter. Cisco Systems makes up approximately 3.1% of Guinness Asset Management Ltd’s holdings, making the stock its biggest holding. Guinness Asset Management Ltd’s holdings in Cisco Systems were worth $14,864,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CSCO. Financial Management Professionals Inc. grew its holdings in Cisco Systems by 17.7% during the 1st quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after acquiring an additional 635 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in Cisco Systems during the 1st quarter worth about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in Cisco Systems by 15.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares during the last quarter. Baystate Wealth Management LLC grew its holdings in Cisco Systems by 24.5% during the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its holdings in Cisco Systems by 23.1% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the transaction, the senior vice president now owns 192,774 shares in the company, valued at approximately $6,180,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 420,138 shares of company stock valued at $13,239,624 in the last quarter. 0.11% of the stock is owned by corporate insiders.
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A number of equities research analysts have commented on CSCO shares. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective on the stock. in a report on Wednesday, August 30th. Jefferies Group LLC reissued a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a report on Friday, May 26th. Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. William Blair reissued an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Finally, Robert W. Baird reissued a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a report on Monday, September 11th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.57.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.65% during midday trading on Wednesday, hitting $32.70. 6,463,291 shares of the stock were exchanged. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The firm has a market capitalization of $161.93 billion, a price-to-earnings ratio of 17.21 and a beta of 1.19. The stock’s 50-day moving average price is $31.72 and its 200-day moving average price is $32.41. Cisco Systems also was the recipient of some unusual options trading on Monday. Investors purchased 16,510 put options on the stock. This is an increase of 117% compared to the average daily volume of 7,614 put options.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. On average, analysts forecast that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.57%. Cisco Systems’s payout ratio is 60.73%.
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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