Alpha DNA Investment Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,658 shares of the network equipment provider’s stock after buying an additional 360 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Cisco Systems were worth $137,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Costello Asset Management INC bought a new position in Cisco Systems in the fourth quarter worth approximately $26,000. Navis Wealth Advisors LLC bought a new position in Cisco Systems in the fourth quarter worth approximately $30,000. Better Money Decisions LLC bought a new stake in Cisco Systems during the 1st quarter valued at $30,000. Defined Wealth Management LLC bought a new stake in Cisco Systems during the 4th quarter valued at $34,000. Finally, Stuart Chaussee & Associates Inc. boosted its position in Cisco Systems by 43.2% during the 1st quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 72.16% of the company’s stock.
In related news, Director M Michele Burns sold 13,982 shares of the company’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $51.55, for a total transaction of $720,772.10. Following the sale, the director now directly owns 70,468 shares in the company, valued at $3,632,625.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 7,584 shares of the company’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $53.11, for a total transaction of $402,786.24. The disclosure for this sale can be found here. Insiders have sold 37,395 shares of company stock worth $1,970,410 in the last three months. Corporate insiders own 0.02% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, July 2nd. This represents a $1.48 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is presently 50.68%.
CSCO has been the topic of several recent research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Cisco Systems in a research report on Thursday, April 29th. DZ Bank reissued a “hold” rating and issued a $51.00 price objective on shares of Cisco Systems in a research report on Thursday, May 27th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Thursday, March 11th. Morgan Stanley raised their price objective on Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, April 16th. Finally, MKM Partners started coverage on Cisco Systems in a research note on Thursday, May 13th. They issued a “buy” rating and a $61.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.85.
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 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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