Diamond Hill Capital Management Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 88.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,078 shares of the network equipment provider’s stock after selling 4,406,666 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Cisco Systems were worth $19,609,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in CSCO. Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Cisco Systems by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after purchasing an additional 5,049,326 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Cisco Systems by 51.1% in the 2nd quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after purchasing an additional 4,577,831 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Cisco Systems by 36.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock valued at $419,903,000 after buying an additional 3,559,275 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Cisco Systems by 12.1% during the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after buying an additional 3,384,768 shares during the last quarter. 75.55% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up $0.19 during trading on Thursday, hitting $40.10. 20,313,000 shares of the company traded hands, compared to its average volume of 20,800,000. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The company has a market cap of $198,240.00, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.19. Cisco Systems, Inc. has a 52 week low of $29.80 and a 52 week high of $40.24.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. equities analysts anticipate that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.
CSCO has been the subject of a number of recent analyst reports. Oppenheimer reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Friday, October 20th. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price target for the company. in a report on Wednesday, September 13th. ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Jefferies Group reiterated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a report on Friday, October 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.93.
In related news, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock worth $12,892,271 over the last three months. 0.05% of the stock is currently owned by insiders.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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