First Merchants Corp increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,290 shares of the network equipment provider’s stock after purchasing an additional 3,376 shares during the period. Cisco Systems accounts for about 1.1% of First Merchants Corp’s holdings, making the stock its 20th biggest holding. First Merchants Corp’s holdings in Cisco Systems were worth $4,140,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems during the first quarter valued at about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in shares of Cisco Systems by 23.1% during the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 823 shares during the last quarter. Thompson Davis & CO. Inc. increased its position in shares of Cisco Systems by 14.3% during the first quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock valued at $150,000 after acquiring an additional 555 shares during the last quarter. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Cisco Systems during the first quarter valued at about $174,000. Hedge funds and other institutional investors own 75.38% of the company’s stock.
In other news, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.11% of the stock is currently owned by company insiders.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at 33.26 on Friday. The firm has a market capitalization of $164.70 billion, a PE ratio of 17.51 and a beta of 1.21. The firm has a 50-day moving average of $32.70 and a 200 day moving average of $32.35. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio is currently 60.73%.
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A number of brokerages have weighed in on CSCO. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Thursday. Fifteen analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.30.
About Cisco Systems
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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