Defender Capital LLC. Acquires New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)
Defender Capital LLC. bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,387 shares of the network equipment provider’s stock, valued at approximately $205,000. Cisco Systems accounts for approximately 0.1% of Defender Capital LLC.’s holdings, making the stock its 23rd largest position.
A number of other hedge funds also recently bought and sold shares of CSCO. BlackRock Inc. raised its stake in Cisco Systems by 1.9% during the 1st quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock valued at $12,703,234,000 after acquiring an additional 5,966,755 shares in the last quarter. Wellington Management Group LLP increased its stake in Cisco Systems by 38.3% during the 1st quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock valued at $3,718,681,000 after buying an additional 26,179,953 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 62,331,398 shares of the network equipment provider’s stock worth $2,445,803,000 after acquiring an additional 907,397 shares during the period. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $2,297,257,000. Finally, Legal & General Group Plc raised its holdings in Cisco Systems by 2.7% during the first quarter. Legal & General Group Plc now owns 29,675,408 shares of the network equipment provider’s stock worth $1,174,122,000 after purchasing an additional 782,430 shares in the last quarter. Institutional investors own 71.52% of the company’s stock.
In related news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the sale, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the prior year, the firm posted $0.78 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.44 annualized dividend and a yield of 3.09%. Cisco Systems’s dividend payout ratio is 50.53%.
CSCO has been the subject of several research reports. Barclays cut Cisco Systems to a “hold” rating in a research note on Thursday. Nomura Instinet lifted their price target on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. MKM Partners lifted their target price on Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. BidaskClub lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Finally, UBS Group reduced their price objective on shares of Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.70.
Cisco Systems 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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