Candriam Luxembourg S.C.A. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 477,287 shares of the network equipment provider’s stock after selling 24,669 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Cisco Systems were worth $14,940,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Washington Trust Bank grew its holdings in Cisco Systems by 2.5% during the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after acquiring an additional 2,726 shares during the last quarter. Holderness Investments Co. lifted its position in shares of Cisco Systems by 12.1% in the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after purchasing an additional 7,186 shares during the period. Pioneer Investment Management Inc. lifted its position in shares of Cisco Systems by 5.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after purchasing an additional 408,875 shares during the period. Congress Asset Management Co. MA lifted its position in shares of Cisco Systems by 4.1% in the 1st quarter. Congress Asset Management Co. MA now owns 147,410 shares of the network equipment provider’s stock worth $4,982,000 after purchasing an additional 5,796 shares during the period. Finally, Investment House LLC lifted its position in shares of Cisco Systems by 7.5% in the 2nd quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock worth $2,673,000 after purchasing an additional 5,975 shares during the period. 75.35% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at 34.58 on Wednesday. The firm’s 50-day moving average is $33.15 and its 200-day moving average is $32.36. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.68. The company has a market cap of $171.24 billion, a price-to-earnings ratio of 18.20 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be paid 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 3.35%. Cisco Systems’s dividend payout ratio is currently 60.73%.
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CSCO has been the topic of a number of recent analyst reports. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, July 1st. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price target on the stock in a research report on Thursday, July 6th. BidaskClub upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG set a $40.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $35.30.
In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.11% of the company’s stock.
Cisco Systems Company 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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