Ossiam raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 53.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,479 shares of the network equipment provider’s stock after acquiring an additional 26,343 shares during the quarter. Ossiam’s holdings in Cisco Systems were worth $4,179,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in CSCO. McCarthy Asset Management Inc. raised its holdings in Cisco Systems by 87.8% during the 2nd quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. Lake Point Wealth Management bought a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Arcadia Investment Management Corp MI raised its stake in shares of Cisco Systems by 48.4% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 705 shares of the network equipment provider’s stock worth $37,000 after purchasing an additional 230 shares in the last quarter. IAG Wealth Partners LLC bought a new stake in Cisco Systems in the 2nd quarter valued at $40,000. Finally, ShoreHaven Wealth Partners LLC raised its stake in Cisco Systems by 55.2% in the 1st quarter. ShoreHaven Wealth Partners LLC now owns 776 shares of the network equipment provider’s stock valued at $40,000 after acquiring an additional 276 shares during the period. 71.92% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Charles Robbins sold 6,543 shares of Cisco Systems stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $59.69, for a total transaction of $390,551.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prat Bhatt sold 468 shares of Cisco Systems stock in a transaction on Monday, September 13th. The stock was sold at an average price of $58.35, for a total value of $27,307.80. The disclosure for this sale can be found here. Insiders sold 64,529 shares of company stock valued at $3,827,391 in the last three months. Insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. The business had revenue of $13.13 billion during the quarter, compared to the consensus estimate of $13.04 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 27th. Shareholders of record on Tuesday, October 5th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, October 4th. This represents a $1.48 dividend on an annualized basis and a yield of 2.68%. Cisco Systems’s dividend payout ratio (DPR) is presently 51.21%.
CSCO has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a research note on Tuesday, July 27th. Oppenheimer upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 19th. Robert W. Baird upped their price objective on Cisco Systems from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, September 16th. Credit Suisse Group raised Cisco Systems from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $56.00 to $74.00 in a report on Thursday, September 16th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on Cisco Systems in a report on Thursday, September 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $59.90.
Cisco Systems Profile
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
See Also: Initial Coin Offering (ICO)
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