DF Dent & Co. Inc. reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,556 shares of the network equipment provider’s stock after selling 1,275 shares during the quarter. DF Dent & Co. Inc.’s holdings in Cisco Systems were worth $2,692,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CSCO. JJJ Advisors Inc. acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $110,000. Legacy Advisors LLC lifted its stake in Cisco Systems by 597.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 2,940 shares in the last quarter. Cerebellum GP LLC bought a new stake in Cisco Systems in the 2nd quarter valued at approximately $174,000. Landaas & Co. WI ADV bought a new stake in Cisco Systems in the 2nd quarter valued at approximately $184,000. Finally, Amussen Hunsaker Associates LLC bought a new stake in Cisco Systems in the 1st quarter valued at approximately $196,000. Institutional investors own 69.52% of the company’s stock.
In related news, SVP Irving Tan sold 68,308 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $47.38, for a total value of $3,236,433.04. Following the sale, the senior vice president now owns 150,763 shares in the company, valued at approximately $7,143,150.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prat Bhatt sold 33,950 shares of the stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $44.86, for a total value of $1,522,997.00. Following the completion of the sale, the senior vice president now owns 90,207 shares in the company, valued at approximately $4,046,686.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 586,943 shares of company stock worth $27,718,423. 0.03% of the stock is owned by company insiders.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.
Several research firms have commented on CSCO. Robert W. Baird restated an “outperform” rating and issued a $53.00 target price on shares of Cisco Systems in a research note on Thursday, November 29th. Raymond James boosted their target price on Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 15th. KeyCorp boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 15th. Loop Capital upgraded Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 target price on the stock in a research note on Thursday, November 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, November 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $50.26.
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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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