Raymond James Trust N.A. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 566,534 shares of the network equipment provider’s stock after buying an additional 15,070 shares during the period. Cisco Systems makes up 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 SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Hoey Investments Inc. acquired a new position in Cisco Systems in the second quarter worth about $26,000. FNY Investment Advisers LLC raised its position in Cisco Systems by 79,900.0% in the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 799 shares in the last quarter. Emerald Advisers LLC acquired a new position in Cisco Systems in the second quarter worth about $38,000. Larson Financial Group LLC raised its position in Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after purchasing an additional 356 shares in the last quarter. Finally, Ovata Capital Management Ltd acquired a new position in Cisco Systems in the second quarter worth about $44,000. 71.28% of the stock is owned by institutional investors and hedge funds.
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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be issued a $0.36 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s dividend payout ratio is currently 49.32%.
Several research analysts recently issued reports on CSCO shares. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price target on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Cisco Systems in a research note on Thursday, August 13th. Barclays cut shares of Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Finally, BidaskClub cut shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $47.45.
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.
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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