MADDEN SECURITIES Corp purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,004 shares of the network equipment provider’s stock, valued at approximately $233,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Cisco Systems by 1.9% in the first quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock valued at $12,703,234,000 after acquiring an additional 5,966,755 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cisco Systems by 38.3% during the first quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock worth $3,718,681,000 after purchasing an additional 26,179,953 shares during the period. Geode Capital Management LLC lifted its stake in Cisco Systems by 1.5% in the first quarter. Geode Capital Management LLC now owns 62,331,398 shares of the network equipment provider’s stock valued at $2,445,803,000 after acquiring an additional 907,397 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $2,297,257,000. Finally, Legal & General Group Plc lifted its stake in Cisco Systems by 2.7% in the first quarter. Legal & General Group Plc now owns 29,675,408 shares of the network equipment provider’s stock valued at $1,174,122,000 after acquiring an additional 782,430 shares during the last quarter. 71.36% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 target price for the company in a research note on Thursday, July 9th. BidaskClub cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, June 10th. Raymond James lifted their price target on shares of Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wells Fargo & Co lifted their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Finally, Robert W. Baird lowered shares of Cisco Systems from an “outperform” rating to a “neutral” rating and set a $48.00 price target on the stock. in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.70.
Shares of NASDAQ:CSCO traded up $0.33 on Tuesday, hitting $46.26. The stock had a trading volume of 19,251,477 shares, compared to its average volume of 27,209,016. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $58.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. The firm’s 50 day moving average price is $46.15 and its 200-day moving average price is $44.26. The company has a market capitalization of $197.01 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.02 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.11%. Cisco Systems’s dividend payout ratio is presently 50.53%.
Cisco Systems Company Profile
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: What is a recession?
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (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.