Procyon Private Wealth Partners LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,829 shares of the network equipment provider’s stock after selling 255 shares during the period. Cisco Systems comprises approximately 0.7% of Procyon Private Wealth Partners LLC’s portfolio, making the stock its 29th largest position. Procyon Private Wealth Partners LLC’s holdings in Cisco Systems were worth $2,875,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of CSCO. McCarthy Asset Management Inc. grew its stake in shares of Cisco Systems by 87.8% in the second quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock worth $26,000 after acquiring an additional 231 shares in the last quarter. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth $32,000. Lake Point Wealth Management acquired a new position in shares of Cisco Systems during the second quarter worth $36,000. Arcadia Investment Management Corp MI grew its stake in shares of Cisco Systems by 48.4% during the second 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. Finally, Activest Wealth Management grew its stake in shares of Cisco Systems by 77.8% during the third quarter. Activest Wealth Management now owns 672 shares of the network equipment provider’s stock worth $37,000 after purchasing an additional 294 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.
A number of brokerages recently commented on CSCO. Barclays boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a research note on Tuesday, August 24th. JMP Securities reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, September 16th. Oppenheimer boosted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 19th. Finally, MKM Partners boosted their price target on shares of Cisco Systems from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, September 20th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.24.
Shares of NASDAQ:CSCO opened at $55.54 on Thursday. The company has a 50-day simple moving average of $55.81 and a 200-day simple moving average of $55.24. Cisco Systems, Inc. has a one year low of $42.21 and a one year high of $60.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62. The stock has a market capitalization of $234.25 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.48 and a beta of 0.92.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Cisco Systems had a net margin of 22.44% and a return on equity of 30.59%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 27th. Stockholders of record on Tuesday, October 5th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, October 4th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s payout ratio is 55.02%.
Cisco Systems Company 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.
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