AdvisorNet Financial Inc Grows Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AdvisorNet Financial Inc raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 0.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 26,865 shares of the network equipment provider’s stock after buying an additional 240 shares during the period. AdvisorNet Financial Inc’s holdings in Cisco Systems were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock valued at $20,568,578,000 after purchasing an additional 30,181,146 shares in the last quarter. BlackRock Inc. increased its stake in shares of Cisco Systems by 0.3% in the 1st quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock valued at $19,604,258,000 after purchasing an additional 1,178,419 shares in the last quarter. State Street Corp increased its stake in shares of Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock valued at $10,602,330,000 after purchasing an additional 4,017,068 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $2,492,430,000. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Jeffery S. Sharritts sold 637 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total transaction of $28,467.53. Following the transaction, the executive vice president now directly owns 166,370 shares in the company, valued at $7,435,075.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, COO Maria Martinez sold 2,831 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total transaction of $136,992.09. Following the transaction, the chief operating officer now directly owns 278,012 shares in the company, valued at $13,453,000.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffery S. Sharritts sold 637 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total value of $28,467.53. Following the sale, the executive vice president now directly owns 166,370 shares in the company, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock worth $2,612,042 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.0 %

CSCO opened at $43.30 on Friday. Cisco Systems, Inc. has a one year low of $40.82 and a one year high of $64.29. The stock has a market capitalization of $177.91 billion, a PE ratio of 15.35, a P/E/G ratio of 2.15 and a beta of 0.96. The business’s 50 day moving average price is $45.16 and its 200 day moving average price is $47.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The firm had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $12.78 billion. During the same period in the prior year, the firm posted $0.76 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.1 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 53.90%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. TheStreet lowered Cisco Systems from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Raymond James cut their price objective on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, August 18th. Cowen boosted their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Cowen boosted their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Finally, Jefferies Financial Group boosted their price objective on Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.29.

Cisco Systems Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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