HM Payson & Co. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 923,146 shares of the network equipment provider’s stock after buying an additional 12,244 shares during the quarter. Cisco Systems accounts for approximately 1.3% of HM Payson & Co.’s investment portfolio, making the stock its 25th largest position. HM Payson & Co.’s holdings in Cisco Systems were worth $28,895,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Boston Partners boosted its stake in shares of Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after purchasing an additional 23,002,159 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Cisco Systems during the first quarter valued at $109,564,000. Acadian Asset Management LLC boosted its stake in shares of Cisco Systems by 202.3% during the second quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock valued at $87,922,000 after purchasing an additional 1,879,688 shares during the period. Sei Investments Co. boosted its stake in shares of Cisco Systems by 62.6% during the second quarter. Sei Investments Co. now owns 3,679,903 shares of the network equipment provider’s stock valued at $115,182,000 after purchasing an additional 1,416,225 shares during the period. Finally, Locust Wood Capital Advisers LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at $31,483,000. 75.22% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $35.90 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $177,670.00, a PE ratio of 15.69, a P/E/G ratio of 2.98 and a beta of 1.15. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $36.67.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. analysts predict that Cisco Systems, Inc. will post 2.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.10%.
A number of analysts have recently issued reports on CSCO shares. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 target price for the company. in a research note on Monday, July 24th. BMO Capital Markets reissued a “hold” rating on shares of Cisco Systems in a research note on Friday, July 28th. BidaskClub lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank AG set a $40.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $36.67.
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In related news, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction dated 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 directly owns 192,774 shares in the company, valued at approximately $6,180,334.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were 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 $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 over the last three months. Corporate insiders own 0.05% 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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