Gulf International Bank UK Ltd lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,584,371 shares of the network equipment provider’s stock after purchasing an additional 31,072 shares during the quarter. Cisco Systems comprises about 0.9% of Gulf International Bank UK Ltd’s holdings, making the stock its 19th largest holding. Gulf International Bank UK Ltd’s holdings in Cisco Systems were worth $77,079,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CSCO. LFA Lugano Financial Advisors SA increased its holdings in Cisco Systems by 220,000.0% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock worth $107,000 after buying an additional 2,200 shares in the last quarter. Camarda Financial Advisors LLC raised its stake in Cisco Systems by 546.3% during the 3rd quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock valued at $126,000 after purchasing an additional 2,185 shares during the period. Shamrock Asset Management LLC increased its stake in Cisco Systems by 3,623.0% in the 3rd quarter. Shamrock Asset Management LLC now owns 3,723 shares of the network equipment provider’s stock worth $181,000 after acquiring an additional 3,623 shares during the last quarter. Landaas & Co. WI ADV bought a new stake in Cisco Systems in the 2nd quarter worth approximately $184,000. Finally, McAdam LLC increased its stake in Cisco Systems by 1,374.4% in the 3rd quarter. McAdam LLC now owns 3,863 shares of the network equipment provider’s stock worth $189,000 after acquiring an additional 3,601 shares during the last quarter. 70.62% of the stock is owned by institutional investors.
In related news, SVP Irving Tan sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total value of $1,356,040.00. Following the sale, the senior vice president now owns 188,853 shares of the company’s stock, valued at approximately $9,146,150.79. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prat Bhatt sold 33,950 shares of the company’s stock in a transaction that occurred 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 directly owns 90,207 shares in the company, valued at approximately $4,046,686.02. The disclosure for this sale can be found here. Insiders have sold a total of 166,067 shares of company stock worth $7,804,662 in the last three months. Corporate insiders own 0.03% of the company’s stock.
A number of research firms have issued reports on CSCO. Morgan Stanley downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $51.00 to $49.00 in a research note on Tuesday. Robert W. Baird restated a “buy” rating and set a $53.00 price objective on shares of Cisco Systems in a research note on Tuesday. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. KeyCorp increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 15th. Finally, Wolfe Research assumed coverage on Cisco Systems in a research note on Tuesday, December 11th. They set an “outperform” rating for the company. Nine analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $50.97.
Shares of NASDAQ:CSCO opened at $47.58 on Tuesday. The company has a market cap of $227.34 billion, a PE ratio of 20.33, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. Cisco Systems, Inc. has a 12 month low of $40.19 and a 12 month high of $49.47.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. Analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Thursday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.
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About Cisco Systems
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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