Benedict Financial Advisors Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,502 shares of the network equipment provider’s stock after buying an additional 2,653 shares during the period. Cisco Systems makes up 2.5% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Benedict Financial Advisors Inc.’s holdings in Cisco Systems were worth $4,648,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Asset Management Group Inc. raised its position in shares of Cisco Systems by 0.8% in the fourth quarter. Asset Management Group Inc. now owns 13,196 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 107 shares during the period. Commonwealth Financial Services LLC raised its stake in Cisco Systems by 1.2% in the first quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock valued at $339,000 after buying an additional 118 shares during the last quarter. Dynamic Advisors Solutions LLC raised its stake in Cisco Systems by 0.8% in the first quarter. Dynamic Advisors Solutions LLC now owns 21,553 shares of the network equipment provider’s stock valued at $729,000 after buying an additional 162 shares during the last quarter. First Command Financial Services Inc. raised its stake in Cisco Systems by 1.5% in the first quarter. First Command Financial Services Inc. now owns 11,187 shares of the network equipment provider’s stock valued at $378,000 after buying an additional 166 shares during the last quarter. Finally, Sky Investment Group LLC raised its stake in Cisco Systems by 1.6% in the first quarter. Sky Investment Group LLC now owns 10,962 shares of the network equipment provider’s stock valued at $371,000 after buying an additional 175 shares during the last quarter. 75.28% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems, Inc. (CSCO) traded up 0.78% during midday trading on Wednesday, reaching $32.34. 28,938,338 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $31.53 and a 200 day moving average price of $32.57. The company has a market cap of $161.70 billion, a P/E ratio of 16.42 and a beta of 1.24. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Traders acquired 24,568 put options on the stock. This represents an increase of approximately 223% compared to the average volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. Cisco Systems’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
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CSCO has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research note on Friday, May 26th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. Zacks Investment Research downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research note on Friday, May 12th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $35.31.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is currently owned by insiders.
About Cisco Systems
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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