Keel Point LLC Raises Stake in Cisco Systems, Inc. (CSCO)
Keel Point LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,784 shares of the network equipment provider’s stock after buying an additional 414 shares during the period. Keel Point LLC’s holdings in Cisco Systems were worth $297,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CSCO. Financial Management Professionals Inc. increased its stake in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in Cisco Systems during the fourth quarter worth $128,000. Jackson Grant Investment Advisers Inc. increased its stake in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock worth $128,000 after buying an additional 4,150 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after buying an additional 823 shares in the last quarter. 75.40% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 1.52% during trading on Friday, hitting $31.47. The stock had a trading volume of 20,756,566 shares. The stock has a market capitalization of $157.35 billion, a price-to-earnings ratio of 15.97 and a beta of 1.24. The firm has a 50 day moving average price of $31.54 and a 200-day moving average price of $32.53. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. Cisco Systems also saw some unusual options trading on Wednesday. Stock traders acquired 21,024 call options on the stock. This represents an increase of 113% compared to the typical daily volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. Cisco Systems’s dividend payout ratio is presently 58.29%.
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A number of research firms have recently weighed in on CSCO. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research note on Thursday, August 3rd. Finally, Robert W. Baird set a $38.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.31.
In related news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares in the company, valued at $5,587,674.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 over the last 90 days. 0.11% of the stock is currently owned by corporate insiders.
Cisco Systems Company Profile
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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