DNB Asset Management AS boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,898,241 shares of the network equipment provider’s stock after purchasing an additional 367,328 shares during the period. Cisco Systems accounts for approximately 0.8% of DNB Asset Management AS’s holdings, making the stock its 25th largest holding. DNB Asset Management AS’s holdings in Cisco Systems were worth $74,772,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB increased its position in Cisco Systems by 103.2% in the 2nd quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock valued at $2,249,322,000 after acquiring an additional 24,469,149 shares in the last quarter. Public Investment Fund bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $490,881,000. Advisor Group Holdings Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at approximately $64,944,000. First Trust Advisors LP raised its position in Cisco Systems by 33.4% in the 2nd quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock worth $1,032,099,000 after purchasing an additional 5,546,028 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Cisco Systems by 199.6% during the 1st quarter. Capital International Investors now owns 6,604,661 shares of the network equipment provider’s stock worth $259,629,000 after buying an additional 4,400,427 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
In other Cisco Systems news, CFO Kelly A. Kramer sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CEO Charles Robbins sold 7,806 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $42.10, for a total transaction of $328,632.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,166 shares of company stock worth $2,528,248. Corporate insiders own 0.03% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. William Blair restated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, August 13th. Morgan Stanley reissued a “buy” rating and set a $54.00 price objective on shares of Cisco Systems in a report on Thursday, August 13th. Barclays downgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, July 9th. Bank of America lowered their price target on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Robert W. Baird restated a “hold” rating and issued a $48.00 price objective on shares of Cisco Systems in a report on Monday, August 10th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.45.
Shares of CSCO stock opened at $40.16 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. The company has a market capitalization of $170.01 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. The company’s 50 day moving average price is $39.95 and its two-hundred day moving average price is $43.30. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $50.28.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio is 49.32%.
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 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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