Lakeview Capital Partners LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,348 shares of the network equipment provider’s stock after acquiring an additional 264 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Cisco Systems were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Hoey Investments Inc. bought a new stake in Cisco Systems in the second quarter worth approximately $26,000. FNY Investment Advisers LLC increased its holdings in shares of Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 799 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $38,000. Larson Financial Group LLC increased its holdings in shares of Cisco Systems by 61.1% during the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after acquiring an additional 356 shares in the last quarter. Finally, Ovata Capital Management Ltd bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $44,000. Institutional investors own 71.28% of the company’s stock.
Several equities research analysts have recently commented on CSCO shares. Robert W. Baird restated a “hold” rating and set a $48.00 price objective on shares of Cisco Systems in a report on Monday, August 10th. Wolfe Research downgraded Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective for the company. in a report on Friday, September 18th. JPMorgan Chase & Co. decreased their price objective on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Credit Suisse Group boosted their price objective on Cisco Systems from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, UBS Group initiated coverage on Cisco Systems in a report on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.45.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 annualized dividend and a dividend yield of 3.59%. Cisco Systems’s payout ratio is presently 49.32%.
In related news, EVP Irving Tan sold 4,141 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the sale, the executive vice president now directly owns 125,860 shares in the company, valued at approximately $5,296,188.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 7,806 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total value of $328,632.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,166 shares of company stock worth $2,528,248. Corporate insiders own 0.03% of the company’s stock.
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.
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