Renaissance Investment Consultants Holding Company LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,894 shares of the network equipment provider’s stock after selling 487 shares during the period. Renaissance Investment Consultants Holding Company LLC’s holdings in Cisco Systems were worth $458,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Hoey Investments Inc. bought a new stake in Cisco Systems during the 2nd quarter worth $26,000. Lion Street Advisors LLC bought a new stake in Cisco Systems during the 1st quarter worth $31,000. Emerald Advisers LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $38,000. Bourgeon Capital Management LLC bought a new stake in shares of Cisco Systems in the 1st quarter valued at about $32,000. Finally, Larson Financial Group LLC grew its position in shares of Cisco Systems by 61.1% in the 2nd quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock valued at $44,000 after buying an additional 356 shares during the last quarter. Institutional investors and hedge funds own 71.36% of the company’s stock.
CSCO has been the topic of a number of analyst reports. UBS Group reduced their price target on Cisco Systems from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Piper Sandler upped their price target on Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. lowered Cisco Systems from an “overweight” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Thursday, July 16th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $48.00 to $55.00 in a research report on Tuesday, June 16th. Finally, Barclays lowered Cisco Systems to a “hold” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and a consensus price target of $50.33.
CSCO stock traded up $0.66 during trading on Friday, reaching $47.10. 17,706,367 shares of the stock were exchanged, compared to its average volume of 16,785,004. The firm’s 50 day moving average is $46.07 and its 200 day moving average is $44.16. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $56.89. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The firm has a market cap of $198.87 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.87 billion. During the same period in the prior year, the business earned $0.78 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, July 2nd. Cisco Systems’s dividend payout ratio (DPR) 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.
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