Virtu Financial LLC decreased its stake in Cisco Systems, Inc. by 75.9% in the last quarter, according to the latest SEC filing. The company owned 8,156 shares of Cisco worth $412,000 after selling 25,683 shares. Several other hedge funds and institutional investors also bought and sold shares of Cisco Systems recently. Cisco Systems trading increased by 0.6%, with actions opening at $45.97 on Wednesday. The company’s 1-year low is $44.95, and the high is $58.19.
Cisco Systems posted $0.88 earnings per share for the quarter, exceeding analysts’ estimates by $0.18. The company achieved a return on equity of 30.82% and a net margin of 21.88%. Revenue for the quarter was $12.70 billion, compared to analyst estimates of $12.53 billion. Cisco Systems last released its quarterly earnings data on May 15th.
A quarterly dividend was announced, with shareholders of record on July 5th receiving $0.40 per share on July 24. This represents an annualized dividend of $1.60 and a yield of 3.48%. Additionally, insider activity at Cisco Systems included Executive Vice President Deborah L. Stahlkopf selling shares in May and June.
Wall Street analysts have issued varying ratings on CSCO stock, with a consensus rating of “Hold” and an average target price of $56.47. Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and products related to information and communication technology worldwide. The company offers various networking, switching, routing, wireless, and computing products.
While Cisco Systems currently has a “Hold” rating, top-rated analysts have identified five stocks as better buys. These investment strategies are aimed at increasing retirement income from stock portfolios. To see the latest 13F filings and insider trading reports on Cisco Systems, visit HoldingsChannel.com.
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