Gofen & Glossberg LLC IL Purchases 27,293 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gofen & Glossberg LLC IL lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389,283 shares of the network equipment provider’s stock after buying an additional 27,293 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Cisco Systems were worth $16,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cordant Inc. acquired a new stake in Cisco Systems in the first quarter worth about $28,000. Advanced Research Investment Solutions LLC boosted its holdings in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock worth $30,000 after acquiring an additional 463 shares in the last quarter. Conrad Siegel Investment Advisors Inc. acquired a new stake in Cisco Systems in the first quarter worth about $33,000. Evolution Advisers Inc. boosted its holdings in Cisco Systems by 48.2% in the first quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock worth $43,000 after acquiring an additional 254 shares in the last quarter. Finally, PYA Waltman Capital LLC boosted its holdings in Cisco Systems by 445.4% in the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock worth $43,000 after acquiring an additional 628 shares in the last quarter. Institutional investors own 71.71% of the company’s stock.

Cisco Systems Stock Down 1.1 %

Shares of CSCO opened at $41.15 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29. The stock’s 50 day moving average is $45.11 and its two-hundred day moving average is $47.52. The firm has a market cap of $169.08 billion, a P/E ratio of 14.59, a PEG ratio of 2.06 and a beta of 0.96.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period last year, the company earned $0.76 earnings per share. Cisco Systems’s quarterly revenue was down .2% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s payout ratio is currently 53.90%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group raised their price target on Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Cowen raised their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. Rosenblatt Securities raised their price objective on Cisco Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. Finally, Barclays cut Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $56.00 to $46.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $54.10.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 12,716 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total value of $599,432.24. Following the sale, the chief executive officer now directly owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prat Bhatt sold 3,453 shares of Cisco Systems stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares of the company’s stock, valued at $3,650,686.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 12,716 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total value of $599,432.24. Following the completion of the sale, the chief executive officer now directly owns 631,374 shares in the company, valued at $29,762,970.36. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $2,612,042 over the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

See Also

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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