Bronfman E.L. Rothschild L.P. Has $2.87 Million Position in Cisco Systems, Inc. (CSCO)
Bronfman E.L. Rothschild L.P. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,796 shares of the network equipment provider’s stock after selling 2,859 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Cisco Systems were worth $2,874,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cetera Advisors LLC raised its stake in Cisco Systems by 1.4% during the first quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock valued at $3,350,000 after buying an additional 1,106 shares in the last quarter. FCG Advisors LLC raised its stake in Cisco Systems by 7.9% during the first quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock valued at $668,000 after buying an additional 1,140 shares in the last quarter. Neumann Capital Management LLC raised its stake in Cisco Systems by 6.8% during the first quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock valued at $791,000 after buying an additional 1,167 shares in the last quarter. Ballast Inc. raised its stake in Cisco Systems by 6.6% during the first quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock valued at $807,000 after buying an additional 1,172 shares in the last quarter. Finally, Peachtree Investment Advisors Inc. raised its stake in Cisco Systems by 2.7% during the second quarter. Peachtree Investment Advisors Inc. now owns 44,093 shares of the network equipment provider’s stock valued at $1,897,000 after buying an additional 1,175 shares in the last quarter. 71.52% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP David Goeckeler sold 63,050 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now directly owns 547,019 shares in the company, valued at approximately $26,021,693.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $1,502,942.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 450,620 shares of company stock worth $21,322,282. 0.03% of the stock is owned by insiders.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the firm earned $0.61 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s dividend payout ratio is currently 56.41%.
Several brokerages have issued reports on CSCO. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Piper Jaffray Companies set a $53.00 price objective on Cisco Systems and gave the company an “overweight” rating in a research note on Monday, October 1st. UBS Group set a $56.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. Morgan Stanley increased their price target on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 4th. Finally, BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $48.76.
Cisco Systems Company Profile
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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