Country Trust Bank cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 445,203 shares of the network equipment provider’s stock after selling 13,962 shares during the period. Country Trust Bank’s holdings in Cisco Systems were worth $23,035,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lifestyle Asset Management Inc. increased its position in shares of Cisco Systems by 8.1% during the first quarter. Lifestyle Asset Management Inc. now owns 4,843 shares of the network equipment provider’s stock worth $253,000 after acquiring an additional 361 shares in the last quarter. Allred Capital Management LLC boosted its stake in Cisco Systems by 3.5% in the 4th quarter. Allred Capital Management LLC now owns 15,925 shares of the network equipment provider’s stock worth $759,000 after purchasing an additional 538 shares during the period. Atwood & Palmer Inc. increased its holdings in Cisco Systems by 1.2% during the 1st quarter. Atwood & Palmer Inc. now owns 517,457 shares of the network equipment provider’s stock worth $27,050,000 after purchasing an additional 5,919 shares in the last quarter. Abner Herrman & Brock LLC acquired a new stake in shares of Cisco Systems in the 1st quarter valued at about $210,000. Finally, Vantage Investment Partners LLC lifted its holdings in shares of Cisco Systems by 4.1% in the first quarter. Vantage Investment Partners LLC now owns 230,567 shares of the network equipment provider’s stock valued at $12,053,000 after purchasing an additional 8,995 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Evercore ISI boosted their price objective on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. UBS Group raised their target price on shares of Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Finally, Raymond James lifted their target price on Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $59.43.
Cisco Systems Stock Up 0.1 %
Shares of CSCO opened at $56.11 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $227.52 billion, a PE ratio of 18.28, a P/E/G ratio of 2.48 and a beta of 0.97. The firm’s 50 day moving average is $54.20 and its 200-day moving average is $51.17. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $58.19.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the previous year, the company earned $0.74 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current year.
Cisco Systems Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.
Insider Buying and Selling at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the sale, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 6,186 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the sale, the senior vice president now owns 64,493 shares in the company, valued at $3,524,542.45. The disclosure for this sale can be found here. Insiders have sold a total of 54,438 shares of company stock worth $2,948,779 over the last 90 days. Insiders own 0.02% of the company’s stock.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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