Stolper Co Has $5.02 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Share on StockTwits

Stolper Co lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,661 shares of the network equipment provider’s stock after selling 2,797 shares during the period. Cisco Systems comprises 3.3% of Stolper Co’s holdings, making the stock its 6th largest position. Stolper Co’s holdings in Cisco Systems were worth $5,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Cisco Systems by 1.9% in the 1st quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock valued at $12,703,234,000 after buying an additional 5,966,755 shares in the last quarter. Wellington Management Group LLP boosted its stake in Cisco Systems by 38.3% in the 1st quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock worth $3,718,681,000 after purchasing an additional 26,179,953 shares during the period. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 62,331,398 shares of the network equipment provider’s stock worth $2,445,803,000 after purchasing an additional 907,397 shares during the period. Norges Bank acquired a new position in Cisco Systems in the 4th quarter worth $2,297,257,000. Finally, Legal & General Group Plc boosted its stake in Cisco Systems by 2.7% in the 1st quarter. Legal & General Group Plc now owns 29,675,408 shares of the network equipment provider’s stock worth $1,174,122,000 after purchasing an additional 782,430 shares during the period. Institutional investors and hedge funds own 71.52% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Co upped their target price on shares of Cisco Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. KeyCorp lowered shares of Cisco Systems from an “overweight” rating to a “sector weight” rating in a research note on Friday, April 17th. Nomura Securities reduced their target price on shares of Cisco Systems from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Nomura Instinet upped their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Nomura increased their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Cisco Systems has an average rating of “Hold” and an average target price of $50.70.

Shares of CSCO stock traded up $1.20 on Thursday, reaching $47.01. The stock had a trading volume of 13,846,055 shares, compared to its average volume of 25,736,568. The firm has a market capitalization of $192.66 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 2.96 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. Cisco Systems, Inc. has a 12 month low of $32.40 and a 12 month high of $58.26. The firm’s 50-day moving average is $45.99 and its two-hundred day moving average is $44.29.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the prior year, the firm earned $0.78 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th will be issued a $0.36 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.44 annualized dividend and a yield of 3.06%. Cisco Systems’s dividend payout ratio is currently 50.53%.

In other Cisco Systems news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $44.87, for a total value of $255,893.61. Following the transaction, the chief accounting officer now directly owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is owned by corporate insiders.

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.

Recommended Story: How are dividend achievers different from dividend aristocrats?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.