Camden National Bank grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.3% in the third quarter, Holdings Channel.com reports. The firm owned 10,073 shares of the network equipment provider’s stock after acquiring an additional 940 shares during the quarter. Camden National Bank’s holdings in Cisco Systems were worth $498,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Enlightenment Research LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $5,600,000. Great Valley Advisor Group Inc. grew its position in shares of Cisco Systems by 87.1% in the second quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock valued at $2,935,000 after purchasing an additional 24,948 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $5,214,000. Stevens Capital Management LP grew its position in shares of Cisco Systems by 39.1% in the second quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock valued at $30,394,000 after purchasing an additional 156,143 shares in the last quarter. Finally, Atlas Brown Inc. grew its position in shares of Cisco Systems by 6.8% in the second quarter. Atlas Brown Inc. now owns 16,157 shares of the network equipment provider’s stock valued at $884,000 after purchasing an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
In other news, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the completion of the transaction, the executive vice president now directly owns 429,398 shares in the company, valued at $21,134,969.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,130 shares of company stock valued at $9,359,179. Company insiders own 0.03% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Nomura upped their price target on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. UBS Group set a $58.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 15th. BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Credit Suisse Group set a $50.00 price objective on Cisco Systems and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada lowered their price objective on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.04.
CSCO opened at $46.56 on Friday. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26. The business has a fifty day simple moving average of $48.12 and a 200-day simple moving average of $53.20. The firm has a market cap of $197.66 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.24 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period last year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio is currently 49.12%.
Cisco Systems Profile
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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