Iberiabank Corp trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,693 shares of the network equipment provider’s stock after selling 6,818 shares during the period. Cisco Systems makes up approximately 1.3% of Iberiabank Corp’s holdings, making the stock its 18th biggest holding. Iberiabank Corp’s holdings in Cisco Systems were worth $11,226,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hoey Investments Inc. purchased a new position in Cisco Systems in the second quarter worth about $26,000. Lion Street Advisors LLC bought a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $31,000. Bourgeon Capital Management LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth approximately $32,000. Emerald Advisers LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth approximately $38,000. Finally, Avondale Wealth Management increased its position in shares of Cisco Systems by 238.0% during the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after purchasing an additional 707 shares during the last quarter. Hedge funds and other institutional investors own 71.36% of the company’s stock.
In related news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the transaction, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at approximately $3,841,455.31. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.
Several research analysts have commented on the stock. Credit Suisse Group reaffirmed a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a research note on Monday, July 20th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $54.00 price target for the company in a research note on Thursday, July 9th. Citigroup upped their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wolfe Research began coverage on shares of Cisco Systems in a research note on Friday, July 24th. They issued an “outperform” rating and a $54.00 price objective for the company. Finally, BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. Cisco Systems has an average rating of “Hold” and a consensus price target of $50.33.
Shares of CSCO stock opened at $47.10 on Friday. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89. The firm has a market cap of $196.08 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The company has a 50-day moving average of $46.07 and a two-hundred day moving average of $44.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the prior year, the business posted $0.78 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were paid a $0.36 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.06%. Cisco Systems’s payout ratio is presently 50.53%.
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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