AMF Pensionsforsakring AB maintained its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,107,804 shares of the network equipment provider’s stock at the close of the second quarter. Cisco Systems accounts for about 1.6% of AMF Pensionsforsakring AB’s investment portfolio, making the stock its 9th biggest holding. AMF Pensionsforsakring AB owned about 0.08% of Cisco Systems worth $138,844,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Boston Partners grew its stake in Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the period. Karp Capital Management Corp purchased a new stake in Cisco Systems during the first quarter worth approximately $109,564,000. Mondrian Investment Partners LTD purchased a new stake in Cisco Systems during the first quarter worth approximately $60,047,000. Achmea Investment Management B.V. purchased a new position in shares of Cisco Systems in the first quarter valued at $31,170,000. Finally, Swedbank boosted its stake in shares of Cisco Systems by 13.1% in the second quarter. Swedbank now owns 6,744,329 shares of the network equipment provider’s stock valued at $211,097,000 after purchasing an additional 778,863 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the topic of a number of research analyst reports. Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton reiterated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research note on Wednesday, September 6th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a report on Thursday, August 17th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.57.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 420,138 shares of company stock worth $13,239,624 over the last ninety days. 0.11% of the stock is currently owned by insiders.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.885% during midday trading on Friday, reaching $32.475. 17,727,690 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $31.63 and a 200 day moving average price of $32.48. The company has a market cap of $160.81 billion, a P/E ratio of 17.092 and a beta of 1.19. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.73%.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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