First Houston Capital Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 105,900 shares of the network equipment provider’s stock after buying an additional 2,300 shares during the period. Cisco Systems makes up 3.4% of First Houston Capital Inc.’s investment portfolio, making the stock its 4th largest position. First Houston Capital Inc.’s holdings in Cisco Systems were worth $3,359,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CSCO. Bank of New York Mellon Corp raised its position in Cisco Systems by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 123,367,471 shares of the network equipment provider’s stock valued at $3,913,216,000 after buying an additional 10,435,264 shares in the last quarter. Vanguard Group Inc. increased its stake in Cisco Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 317,302,573 shares of the network equipment provider’s stock valued at $9,103,410,000 after buying an additional 6,634,140 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Cisco Systems by 178.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 9,791,742 shares of the network equipment provider’s stock valued at $280,925,000 after buying an additional 6,278,187 shares during the last quarter. APG Asset Management N.V. increased its stake in Cisco Systems by 64.2% in the third quarter. APG Asset Management N.V. now owns 13,131,236 shares of the network equipment provider’s stock valued at $416,523,000 after buying an additional 5,133,977 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Cisco Systems by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 39,348,078 shares of the network equipment provider’s stock valued at $1,128,791,000 after buying an additional 3,972,418 shares during the last quarter. 75.42% of the stock is currently owned by institutional investors.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.51 on Friday. The stock has a market capitalization of $158.17 billion, a P/E ratio of 15.08 and a beta of 1.36. The firm’s 50-day moving average is $30.58 and its 200 day moving average is $30.73. Cisco Systems, Inc. has a 12 month low of $25.19 and a 12 month high of $31.95.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.34 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s payout ratio is currently 49.52%.
Several equities research analysts have recently commented on the stock. Deutsche Bank AG set a $37.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, November 17th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $34.00 price objective on shares of Cisco Systems in a research note on Thursday, November 17th. JMP Securities reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, November 17th. Pacific Crest restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, November 17th. Finally, Barclays PLC restated a “buy” rating and set a $34.00 target price on shares of Cisco Systems in a research report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.41.
In other news, SVP Karen Walker sold 1,793 shares of the business’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $30.41, for a total transaction of $54,525.13. Following the transaction, the senior vice president now directly owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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