Hollencrest Securities LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.3% during the first quarter, Holdings Channel reports. The institutional investor owned 19,755 shares of the network equipment provider’s stock after buying an additional 1,509 shares during the period. Hollencrest Securities LLC’s holdings in Cisco Systems were worth $668,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in CSCO. State Street Corp raised its position in shares of Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock valued at $6,605,412,000 after buying an additional 5,886,055 shares during the last quarter. FMR LLC raised its position in shares of Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock valued at $3,150,500,000 after buying an additional 1,462,365 shares during the last quarter. Dodge & Cox acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $1,950,935,000. Dimensional Fund Advisors LP raised its position in shares of Cisco Systems by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,287,028 shares of the network equipment provider’s stock valued at $1,429,106,000 after buying an additional 2,634,263 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $1,306,395,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 32.09 on Monday. The company has a market cap of $160.45 billion, a P/E ratio of 16.29 and a beta of 1.23. Cisco Systems, Inc. has a 52 week low of $27.13 and a 52 week high of $34.60. The company’s 50-day moving average price is $32.44 and its 200 day moving average price is $32.24. Cisco Systems also saw unusually large options trading on Friday. Stock traders acquired 22,161 put options on the company. This is an increase of approximately 202% compared to the average daily volume of 7,346 put options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. Cisco Systems’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.61%. Cisco Systems’s payout ratio is 58.29%.
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Several research analysts have recently commented on the company. Citigroup Inc. set a $36.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Friday, May 19th. Jefferies Group LLC reissued a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a report on Wednesday, April 26th. Barclays PLC reissued an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price for the company. in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $36.00 target price (down previously from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the company. Cisco Systems has an average rating of “Buy” and a consensus price target of $35.15.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 in the last ninety days. 0.11% of the stock is currently owned by insiders.
About Cisco Systems
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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