Schmidt P J Investment Management Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 65,883 shares of the network equipment provider’s stock after selling 2,533 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Cisco Systems were worth $3,073,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. NEXT Financial Group Inc raised its stake in shares of Cisco Systems by 0.5% in the second quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock worth $2,291,000 after purchasing an additional 230 shares during the last quarter. Strategic Wealth Management Group LLC lifted its stake in shares of Cisco Systems by 2.8% during the 2nd quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after buying an additional 235 shares in the last quarter. Calton & Associates Inc. boosted its holdings in Cisco Systems by 1.6% in the 1st quarter. Calton & Associates Inc. now owns 14,771 shares of the network equipment provider’s stock worth $581,000 after buying an additional 239 shares during the period. McAdam LLC increased its stake in Cisco Systems by 2.1% in the 1st quarter. McAdam LLC now owns 11,735 shares of the network equipment provider’s stock worth $461,000 after buying an additional 245 shares in the last quarter. Finally, JOYN Advisors Inc. raised its holdings in Cisco Systems by 3.4% during the first quarter. JOYN Advisors Inc. now owns 7,576 shares of the network equipment provider’s stock valued at $298,000 after acquiring an additional 246 shares during the period. Institutional investors own 71.36% of the company’s stock.
Several research firms have recently commented on CSCO. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $55.00 in a report on Tuesday, June 16th. Nomura Instinet raised their price objective on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Piper Sandler upped their price target on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Wells Fargo & Co raised their price objective on Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, MKM Partners boosted their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the stock. Cisco Systems has an average rating of “Hold” and a consensus target price of $50.33.
Shares of CSCO stock opened at $47.10 on Friday. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $56.89. The stock has a market capitalization of $198.87 billion, a PE ratio of 15.69, a P/E/G ratio of 3.01 and a beta of 0.98. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $46.07 and a two-hundred day moving average of $44.16.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same period in the previous year, the company posted $0.78 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s payout ratio is 50.53%.
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.
Further Reading: Asset Allocation, Balancing Your Investments
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