Investors Research Corp decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,764 shares of the network equipment provider’s stock after selling 1,850 shares during the quarter. Investors Research Corp’s holdings in Cisco Systems were worth $1,229,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Crossvault Capital Management LLC acquired a new position in Cisco Systems in the first quarter worth approximately $226,000. Park Avenue Securities LLC increased its stake in shares of Cisco Systems by 22.2% in the first quarter. Park Avenue Securities LLC now owns 123,341 shares of the network equipment provider’s stock worth $6,378,000 after acquiring an additional 22,430 shares during the last quarter. JJJ Advisors Inc. boosted its holdings in Cisco Systems by 15.7% in the first quarter. JJJ Advisors Inc. now owns 7,579 shares of the network equipment provider’s stock worth $392,000 after purchasing an additional 1,026 shares in the last quarter. Minneapolis Portfolio Management Group LLC boosted its holdings in Cisco Systems by 1.6% in the first quarter. Minneapolis Portfolio Management Group LLC now owns 487,469 shares of the network equipment provider’s stock worth $25,207,000 after purchasing an additional 7,596 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Cisco Systems by 3.4% during the first quarter. Lindbrook Capital LLC now owns 14,593 shares of the network equipment provider’s stock valued at $755,000 after acquiring an additional 477 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.
A number of equities research analysts have issued reports on CSCO shares. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, February 11th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Thursday, March 11th. Citigroup upped their price objective on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. Raymond James upped their price objective on shares of Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, February 10th. Finally, The Goldman Sachs Group raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Fourteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Cisco Systems has an average rating of “Hold” and a consensus price target of $50.71.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the firm posted $0.77 EPS. Equities analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th were issued a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.93%. Cisco Systems’s payout ratio is presently 50.68%.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,024 shares of the business’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $142,763.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Prat Bhatt sold 6,273 shares of the business’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the sale, the chief accounting officer now directly owns 119,282 shares of the company’s stock, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Insiders have sold a total of 37,776 shares of company stock valued at $1,832,205 in the last ninety days. 0.02% of the stock is currently owned by insiders.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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