Private Harbour Investment Management & Counsel LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,896 shares of the network equipment provider’s stock after selling 2,841 shares during the quarter. Cisco Systems comprises approximately 2.5% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 7th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Cisco Systems were worth $2,655,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CSCO. Bank of New York Mellon Corp increased its stake in Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after acquiring an additional 13,927,416 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Cisco Systems by 91.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after acquiring an additional 9,292,187 shares during the last quarter. Mackenzie Financial Corp increased its stake in Cisco Systems by 5,651.3% in the fourth quarter. Mackenzie Financial Corp now owns 4,910,280 shares of the network equipment provider’s stock valued at $188,064,000 after acquiring an additional 4,824,903 shares during the last quarter. SG Americas Securities LLC increased its stake in Cisco Systems by 565.8% in the first quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock valued at $194,382,000 after acquiring an additional 3,851,446 shares during the last quarter. Finally, Swedbank increased its stake in Cisco Systems by 43.5% in the fourth quarter. Swedbank now owns 12,425,302 shares of the network equipment provider’s stock valued at $475,889,000 after acquiring an additional 3,768,806 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CSCO opened at $42.67 on Thursday. The company has a quick ratio of 2.28, a current ratio of 2.34 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.37. The stock has a market capitalization of $205.56 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.88 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The business had revenue of $12.46 billion during the quarter, compared to analyst estimates of $12.42 billion. During the same period last year, the business posted $0.60 earnings per share. sell-side analysts predict that Cisco Systems, Inc. will post 2.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be issued a $0.33 dividend. The ex-dividend date is Thursday, July 5th. This represents a $1.32 annualized dividend and a yield of 3.09%. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $43.27, for a total value of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares in the company, valued at $21,222,117.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Credit Suisse Group initiated coverage on Cisco Systems in a research note on Wednesday, May 9th. They issued a “neutral” rating and a $41.00 target price on the stock. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $45.60 price objective on the stock. in a research note on Monday, March 26th. Argus raised their price objective on Cisco Systems to $55.00 and gave the company a “buy” rating in a research note on Friday, May 18th. Finally, Macquarie initiated coverage on Cisco Systems in a research note on Monday, April 30th. They set an “outperform” rating on the stock. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.56.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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