Arden Trust Co cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,595 shares of the network equipment provider’s stock after selling 3,537 shares during the period. Arden Trust Co’s holdings in Cisco Systems were worth $3,438,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC acquired a new stake in Cisco Systems in the third quarter valued at approximately $438,000. Polaris Greystone Financial Group LLC lifted its stake in Cisco Systems by 13.0% in the third quarter. Polaris Greystone Financial Group LLC now owns 11,001 shares of the network equipment provider’s stock valued at $512,000 after acquiring an additional 1,263 shares during the last quarter. Diversified Trust Co lifted its stake in Cisco Systems by 6.2% in the third quarter. Diversified Trust Co now owns 183,629 shares of the network equipment provider’s stock valued at $9,073,000 after acquiring an additional 10,690 shares during the last quarter. TRUE Private Wealth Advisors lifted its stake in Cisco Systems by 36.2% in the third quarter. TRUE Private Wealth Advisors now owns 39,788 shares of the network equipment provider’s stock valued at $1,965,000 after acquiring an additional 10,582 shares during the last quarter. Finally, SevenBridge Financial Group LLC lifted its stake in Cisco Systems by 1.3% in the third quarter. SevenBridge Financial Group LLC now owns 97,840 shares of the network equipment provider’s stock valued at $4,834,000 after acquiring an additional 1,268 shares during the last quarter. 73.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. MKM Partners reduced their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Nomura lifted their target price on shares of Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Credit Suisse Group set a $50.00 target price on shares of Cisco Systems and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Robert W. Baird set a $54.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Raymond James restated an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.60.
In related news, EVP Mark D. Chandler sold 10,733 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.05, for a total transaction of $537,186.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the transaction, the chief financial officer now owns 277,548 shares of the company’s stock, valued at $12,967,042.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,130 shares of company stock valued at $9,359,179. Corporate insiders own 0.03% of the company’s stock.
Shares of Cisco Systems stock traded up $0.46 on Wednesday, reaching $46.85. The stock had a trading volume of 4,539,905 shares, compared to its average volume of 20,847,318. The business’s 50-day moving average price is $48.23 and its two-hundred day moving average price is $53.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The stock has a market cap of $201.74 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.29 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.99%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s payout ratio is currently 49.12%.
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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