Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Everett Harris & Co. CA
Everett Harris & Co. CA boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 81.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,934 shares of the network equipment provider’s stock after buying an additional 13,411 shares during the period. Everett Harris & Co. CA’s holdings in Cisco Systems were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in CSCO. Kiley Juergens Wealth Management LLC grew its position in Cisco Systems by 2.2% in the second quarter. Kiley Juergens Wealth Management LLC now owns 21,950 shares of the network equipment provider’s stock valued at $1,023,000 after purchasing an additional 475 shares in the last quarter. Corbenic Partners LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $1,809,000. Exchange Traded Concepts LLC grew its holdings in shares of Cisco Systems by 30.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 13,082 shares of the network equipment provider’s stock valued at $514,000 after purchasing an additional 3,023 shares during the last quarter. Balentine LLC acquired a new position in Cisco Systems during the 1st quarter worth approximately $131,000. Finally, Alpha Cubed Investments LLC increased its position in Cisco Systems by 5.1% during the 2nd quarter. Alpha Cubed Investments LLC now owns 464,951 shares of the network equipment provider’s stock worth $21,685,000 after purchasing an additional 22,531 shares in the last quarter. Institutional investors own 71.36% of the company’s stock.
A number of analysts have weighed in on the stock. Credit Suisse Group reaffirmed a “hold” rating and set a $41.00 target price on shares of Cisco Systems in a research note on Monday, July 20th. MKM Partners boosted their price objective on Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. UBS Group dropped their target price on Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Robert W. Baird cut Cisco Systems from an “outperform” rating to a “neutral” rating and set a $48.00 price target on the stock. in a report on Wednesday, June 10th. Finally, Wells Fargo & Co raised their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Cisco Systems presently has a consensus rating of “Hold” and an average price target of $50.33.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.87 billion. During the same quarter last year, the business earned $0.78 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. Cisco Systems’s dividend payout ratio is currently 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction 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 is accessible through the SEC website. 0.03% of the stock is owned by company insiders.
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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