Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,195,050 shares of the network equipment provider’s stock after buying an additional 299,499 shares during the period. Cisco Systems makes up approximately 0.8% of Eagle Asset Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Eagle Asset Management Inc. owned 0.08% of Cisco Systems worth $157,867,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CSCO. Neville Rodie & Shaw Inc. raised its holdings in shares of Cisco Systems by 6.3% during the second quarter. Neville Rodie & Shaw Inc. now owns 69,516 shares of the network equipment provider’s stock worth $3,805,000 after purchasing an additional 4,100 shares during the last quarter. Bath Savings Trust Co raised its holdings in shares of Cisco Systems by 1.7% during the second quarter. Bath Savings Trust Co now owns 21,082 shares of the network equipment provider’s stock worth $1,153,000 after purchasing an additional 356 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Cisco Systems by 0.4% during the second quarter. Private Trust Co. NA now owns 74,379 shares of the network equipment provider’s stock worth $4,070,000 after purchasing an additional 315 shares during the last quarter. Baystate Wealth Management LLC raised its holdings in shares of Cisco Systems by 2.0% during the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after purchasing an additional 202 shares during the last quarter. Finally, Dorsey Wright & Associates raised its holdings in shares of Cisco Systems by 557.4% during the second quarter. Dorsey Wright & Associates now owns 40,735 shares of the network equipment provider’s stock worth $2,229,000 after purchasing an additional 34,539 shares during the last quarter. Institutional investors and hedge funds own 73.27% of the company’s stock.

Several research analysts recently issued reports on CSCO shares. BidaskClub raised shares of Cisco Systems from a “strong sell” rating to a “sell” rating in a report on Thursday. Morgan Stanley cut their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Robert W. Baird set a $54.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Friday, September 13th. Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $48.00 in a report on Thursday, October 10th. Finally, UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.92.

In related news, EVP David Goeckeler sold 70,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the transaction, the executive vice president now directly owns 429,398 shares in the company, valued at $21,134,969.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Irving Tan sold 22,896 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the transaction, the senior vice president now owns 154,819 shares in the company, valued at $7,651,154.98. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock valued at $9,359,179 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Shares of CSCO stock traded up $0.41 on Friday, reaching $48.83. 14,406,400 shares of the company were exchanged, compared to its average volume of 20,421,934. The company has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.28. The business has a 50-day moving average price of $47.56 and a 200 day moving average price of $52.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 49.12%.

Cisco Systems Company 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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