Donald L. Hagan LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 29.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,351 shares of the network equipment provider’s stock after selling 8,185 shares during the period. Donald L. Hagan LLC’s holdings in Cisco Systems were worth $762,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bellecapital International Ltd. lifted its holdings in Cisco Systems by 10.7% in the third quarter. Bellecapital International Ltd. now owns 133,067 shares of the network equipment provider’s stock worth $5,242,000 after buying an additional 12,863 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Cisco Systems by 11.4% during the third quarter. Atlantic Union Bankshares Corp now owns 228,073 shares of the network equipment provider’s stock valued at $8,984,000 after purchasing an additional 23,281 shares during the last quarter. Hudson Capital Management LLC lifted its holdings in shares of Cisco Systems by 2.8% during the third quarter. Hudson Capital Management LLC now owns 49,911 shares of the network equipment provider’s stock valued at $1,966,000 after purchasing an additional 1,353 shares during the last quarter. Clean Yield Group lifted its holdings in shares of Cisco Systems by 12.7% during the third quarter. Clean Yield Group now owns 68,891 shares of the network equipment provider’s stock valued at $2,714,000 after purchasing an additional 7,776 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Cisco Systems by 12.1% during the third quarter. IFM Investors Pty Ltd now owns 350,410 shares of the network equipment provider’s stock valued at $13,803,000 after purchasing an additional 37,863 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.
Shares of CSCO stock traded up $0.19 during mid-day trading on Friday, reaching $40.16. 21,295,117 shares of the company’s stock traded hands, compared to its average volume of 25,676,566. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $50.28. The firm has a 50 day moving average price of $39.95 and a two-hundred day moving average price of $43.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. The firm has a market capitalization of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The firm had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is 49.32%.
In related news, CFO Kelly A. Kramer sold 45,000 shares of Cisco Systems stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CAO Prat Bhatt sold 2,873 shares of Cisco Systems stock in a transaction on Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at approximately $3,453,272.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,166 shares of company stock worth $2,528,248. 0.03% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on CSCO. Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $43.00 in a report on Monday, October 12th. JPMorgan Chase & Co. reduced their price target on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Royal Bank of Canada reissued a “buy” rating and set a $48.00 price target on shares of Cisco Systems in a research report on Thursday, August 13th. Goldman Sachs Group reissued a “neutral” rating and set a $45.00 price target on shares of Cisco Systems in a research report on Thursday, August 13th. Finally, Barclays downgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.45.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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