TradeLink Capital LLC Invests $694,000 in Cisco Systems, Inc. (NASDAQ:CSCO)
TradeLink Capital LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,880 shares of the network equipment provider’s stock, valued at approximately $694,000. Cisco Systems makes up approximately 2.9% of TradeLink Capital LLC’s portfolio, making the stock its 8th largest position.
A number of other hedge funds have also bought and sold shares of CSCO. Hoey Investments Inc. bought a new position in Cisco Systems during the second quarter worth about $26,000. Lion Street Advisors LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at about $31,000. Bourgeon Capital Management LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at about $32,000. Emerald Advisers LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at about $38,000. Finally, Avondale Wealth Management raised its stake in shares of Cisco Systems by 238.0% in the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after purchasing an additional 707 shares during the period. Hedge funds and other institutional investors own 71.36% of the company’s stock.
Several analysts have issued reports on the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $55.00 in a research note on Tuesday, June 16th. Credit Suisse Group reaffirmed a “hold” rating and issued a $41.00 target price on shares of Cisco Systems in a research report on Monday, July 20th. Nomura lifted their target price on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 14th. Finally, Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 target price on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Hold” and an average price target of $50.33.
Shares of NASDAQ:CSCO traded up $0.66 during trading on Friday, hitting $47.10. 17,706,367 shares of the company were exchanged, compared to its average volume of 16,785,004. The business’s 50 day moving average is $46.07 and its 200-day moving average is $44.16. The company has a market capitalization of $198.87 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.53%.
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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