Marquette Asset Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 50.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,334 shares of the network equipment provider’s stock after selling 1,362 shares during the quarter. Marquette Asset Management LLC’s holdings in Cisco Systems were worth $73,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Evolution Wealth Advisors LLC bought a new position in Cisco Systems during the second quarter valued at $33,000. Lowe Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter worth about $38,000. Horan Securities Inc. lifted its holdings in shares of Cisco Systems by 663.0% in the 4th quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after acquiring an additional 663 shares during the last quarter. Highwater Wealth Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth about $51,000. Finally, Cohen & Steers Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $51,000. Hedge funds and other institutional investors own 74.41% of the company’s stock.
Several equities research analysts have recently issued reports on CSCO shares. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Tuesday, May 21st. Bank of America restated a “buy” rating and issued a $62.00 target price on shares of Cisco Systems in a report on Wednesday, July 10th. UBS Group set a $61.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, June 26th. MKM Partners raised their target price on shares of Cisco Systems to $56.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, Piper Jaffray Companies raised their target price on shares of Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $56.42.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $12.96 billion during the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. Cisco Systems’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.
In related news, EVP Mark D. Chandler sold 1,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven M. West sold 20,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the sale, the director now owns 5,263 shares of the company’s stock, valued at $295,833.23. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 over the last quarter. 0.03% of the stock is owned by company insiders.
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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