Heritage Trust Co raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,819 shares of the network equipment provider’s stock after acquiring an additional 2,068 shares during the quarter. Heritage Trust Co’s holdings in Cisco Systems were worth $5,524,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Better Money Decisions LLC bought a new position in shares of Cisco Systems during the first quarter valued at $30,000. Costello Asset Management INC bought a new position in shares of Cisco Systems in the fourth quarter valued at about $26,000. Navis Wealth Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at about $30,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of Cisco Systems by 43.2% in the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after buying an additional 216 shares during the last quarter. Finally, Defined Wealth Management LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at about $34,000. 72.16% of the stock is owned by institutional investors.
In related news, COO Maria Martinez sold 12,000 shares of the stock in a transaction on Monday, May 24th. The stock was sold at an average price of $53.50, for a total value of $642,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prat Bhatt sold 3,829 shares of the stock in a transaction on Monday, May 24th. The shares were sold at an average price of $53.50, for a total value of $204,851.50. Following the completion of the sale, the senior vice president now owns 106,222 shares in the company, valued at approximately $5,682,877. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,395 shares of company stock worth $1,970,410. Company insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s dividend payout ratio is currently 50.68%.
A number of research analysts recently issued reports on the company. Wolfe Research raised Cisco Systems from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Friday, April 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Cisco Systems in a report on Tuesday, April 20th. They issued a “hold” rating and a $55.00 price target for the company. Robert W. Baird reiterated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, May 11th. JPMorgan Chase & Co. upgraded 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. Finally, Morgan Stanley lifted their price objective on Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, April 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.85.
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 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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