Raymond James Trust N.A. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 566,534 shares of the network equipment provider’s stock after acquiring an additional 15,070 shares during the period. Cisco Systems accounts for 1.0% of Raymond James Trust N.A.’s investment portfolio, making the stock its 19th biggest holding. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $22,315,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CSCO. Nordea Investment Management AB grew its holdings in shares of Cisco Systems by 103.2% during 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 purchased a new position in shares of Cisco Systems during the 1st quarter valued at $490,881,000. Advisor Group Holdings Inc. purchased a new position in shares of Cisco Systems during the 1st quarter valued at $64,944,000. First Trust Advisors LP grew its holdings in shares of Cisco Systems by 33.4% during the 2nd quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock valued at $1,032,099,000 after acquiring an additional 5,546,028 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of 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 valued at $259,629,000 after acquiring an additional 4,400,427 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.
In related news, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $42.11, for a total value of $120,982.03. Following the transaction, the chief accounting officer now directly owns 82,006 shares in the company, valued at $3,453,272.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 7,806 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were 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. Insiders sold 60,166 shares of company stock worth $2,528,248 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
A number of equities research analysts recently issued reports on CSCO shares. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Monday, August 10th. ValuEngine cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. UBS Group started coverage on shares of Cisco Systems in a report on Wednesday, September 23rd. They issued a “neutral” rating and a $41.00 price objective for the company. Bank of America decreased their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, September 16th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $48.00 price objective on shares of Cisco Systems in a report on Monday, August 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $47.45.
CSCO opened at $40.16 on Friday. Cisco Systems, Inc. has a one year low of $32.40 and a one year high of $50.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.72 and a quick ratio of 1.67. The company’s 50 day simple moving average is $39.95 and its 200-day simple moving average is $43.30. The stock 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.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.44 annualized dividend and a dividend yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is currently 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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