Atalanta Sosnoff Capital LLC Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Share on StockTwits

Atalanta Sosnoff Capital LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,659 shares of the network equipment provider’s stock after purchasing an additional 32,877 shares during the period. Cisco Systems comprises about 2.6% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 8th largest position. Atalanta Sosnoff Capital LLC’s holdings in Cisco Systems were worth $81,091,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CSCO. OLD National Bancorp IN boosted its stake in Cisco Systems by 0.9% during the 2nd quarter. OLD National Bancorp IN now owns 141,195 shares of the network equipment provider’s stock valued at $7,728,000 after purchasing an additional 1,246 shares during the period. JGP Wealth Management LLC lifted its position in shares of Cisco Systems by 1.7% in the 2nd quarter. JGP Wealth Management LLC now owns 134,986 shares of the network equipment provider’s stock worth $7,388,000 after acquiring an additional 2,216 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Cisco Systems by 12.0% in the 2nd quarter. Beech Hill Advisors Inc. now owns 106,178 shares of the network equipment provider’s stock worth $5,811,000 after acquiring an additional 11,350 shares during the period. Capital Asset Advisory Services LLC lifted its position in shares of Cisco Systems by 153.0% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 21,151 shares of the network equipment provider’s stock worth $1,158,000 after acquiring an additional 12,791 shares during the period. Finally, Liberty Capital Management Inc. lifted its position in shares of Cisco Systems by 8.5% in the 2nd quarter. Liberty Capital Management Inc. now owns 19,229 shares of the network equipment provider’s stock worth $1,052,000 after acquiring an additional 1,500 shares during the period. 74.28% of the stock is currently owned by institutional investors.

In other news, Director Steven M. West sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the transaction, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock valued at $5,159,754 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

A number of equities analysts have recently issued reports on the company. William Blair cut Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 target price for the company. in a report on Wednesday, June 12th. Credit Suisse Group dropped their price target on Cisco Systems from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup dropped their price target on Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a report on Thursday. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, May 21st. Finally, Barclays began coverage on Cisco Systems in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $56.24.

Shares of NASDAQ:CSCO opened at $46.25 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock has a market cap of $220.63 billion, a PE ratio of 19.76, a P/E/G ratio of 2.36 and a beta of 1.18. The business has a 50 day moving average of $55.38 and a 200-day moving average of $53.88. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.03%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is presently 59.83%.

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 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.

Recommended Story: Debt-To-Equity Ratio

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.