US Bancorp DE lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,893,803 shares of the network equipment provider’s stock after selling 42,186 shares during the quarter. US Bancorp DE owned 0.08% of Cisco Systems worth $167,550,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Intrust Bank NA lifted its holdings in shares of Cisco Systems by 4.7% in the 2nd quarter. Intrust Bank NA now owns 42,633 shares of the network equipment provider’s stock valued at $1,835,000 after buying an additional 1,910 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of Cisco Systems by 185.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 49,750 shares of the network equipment provider’s stock valued at $2,141,000 after buying an additional 32,313 shares during the period. Abbrea Capital LLC lifted its holdings in shares of Cisco Systems by 2.0% in the 2nd quarter. Abbrea Capital LLC now owns 78,811 shares of the network equipment provider’s stock valued at $3,391,000 after buying an additional 1,527 shares during the period. Payden & Rygel lifted its holdings in shares of Cisco Systems by 1.4% in the 2nd quarter. Payden & Rygel now owns 886,800 shares of the network equipment provider’s stock valued at $38,159,000 after buying an additional 12,500 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 72.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 25,276 shares of the network equipment provider’s stock valued at $1,088,000 after buying an additional 10,605 shares during the period. Institutional investors and hedge funds own 71.52% of the company’s stock.
Shares of Cisco Systems stock opened at $47.11 on Friday. Cisco Systems, Inc. has a 12 month low of $33.67 and a 12 month high of $49.47. The company has a market cap of $230.76 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.83 and a beta of 1.11. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.80%. Cisco Systems’s payout ratio is currently 56.41%.
A number of equities analysts recently weighed in on CSCO shares. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Friday, October 26th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, August 10th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 16th. Piper Jaffray Companies set a $53.00 price target on Cisco Systems and gave the stock an “overweight” rating in a report on Monday, October 1st. Finally, Loop Capital reaffirmed a “hold” rating and issued a $47.00 price target on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $48.76.
In other news, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the sale, the chief financial officer now owns 720,930 shares of the company’s stock, valued at $34,027,896. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock valued at $21,322,282 over the last 90 days. Company insiders own 0.03% of the company’s stock.
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.
Further Reading: Return on Investment (ROI)
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