Forbes J M & Co. LLP Buys 1,163 Shares of Cisco Systems, Inc. (CSCO)

Forbes J M & Co. LLP boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the second quarter, HoldingsChannel.com reports. The firm owned 217,760 shares of the network equipment provider’s stock after buying an additional 1,163 shares during the period. Cisco Systems accounts for about 2.1% of Forbes J M & Co. LLP’s investment portfolio, making the stock its 19th largest holding. Forbes J M & Co. LLP’s holdings in Cisco Systems were worth $9,370,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSCO. JJJ Advisors Inc. acquired a new stake in Cisco Systems during the 2nd quarter worth about $110,000. Legacy Advisors LLC grew its holdings in Cisco Systems by 597.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 2,940 shares during the period. Stelac Advisory Services LLC bought a new position in shares of Cisco Systems during the 1st quarter worth about $149,000. Cerebellum GP LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth about $174,000. Finally, Landaas & Co. WI ADV bought a new position in shares of Cisco Systems during the 2nd quarter worth about $184,000. Institutional investors and hedge funds own 70.28% of the company’s stock.

In other Cisco Systems news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the transaction, the chief financial officer now directly owns 720,930 shares in the company, valued at approximately $34,027,896. The disclosure for this sale can be found here. In the last ninety days, insiders sold 450,620 shares of company stock worth $21,322,282. 0.03% of the stock is owned by insiders.

Shares of NASDAQ CSCO opened at $44.89 on Friday. Cisco Systems, Inc. has a fifty-two week low of $36.32 and a fifty-two week high of $49.47. The stock has a market capitalization of $216.26 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 2.63 and a beta of 1.11. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were given a $0.33 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.32 annualized dividend and a yield of 2.94%. Cisco Systems’s payout ratio is 56.41%.

CSCO has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Tuesday, September 11th. JPMorgan Chase & Co. set a $59.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 16th. Goldman Sachs Group reissued a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, August 16th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, UBS Group set a $56.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Seven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $49.49.

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

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