Raymond James Trust N.A. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,534 shares of the network equipment provider’s stock after acquiring an additional 15,070 shares during the period. Cisco Systems comprises about 1.0% of Raymond James Trust N.A.’s portfolio, making the stock its 19th largest holding. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $22,315,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Nordea Investment Management AB boosted its holdings in shares of Cisco Systems by 103.2% during the 2nd quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock worth $2,249,322,000 after buying an additional 24,469,149 shares during the period. Public Investment Fund bought a new stake in shares of Cisco Systems during the 1st quarter worth about $490,881,000. Advisor Group Holdings Inc. bought a new stake in shares of Cisco Systems during the 1st quarter worth about $64,944,000. First Trust Advisors LP boosted its holdings in shares of Cisco Systems by 33.4% during the 2nd quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock worth $1,032,099,000 after buying an additional 5,546,028 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Cisco Systems by 199.6% during the 1st quarter. Capital International Investors now owns 6,604,661 shares of the network equipment provider’s stock worth $259,629,000 after buying an additional 4,400,427 shares during the period. 71.28% of the stock is owned by institutional investors.
NASDAQ:CSCO opened at $40.16 on Friday. The firm’s fifty day moving average is $39.95 and its 200-day moving average is $43.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $50.28. The firm has a market cap of $170.01 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.16 and a beta of 0.87.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. Cisco Systems’s payout ratio is presently 49.32%.
In related news, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CAO Prat Bhatt sold 2,873 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $42.11, for a total transaction of $120,982.03. Following the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at approximately $3,453,272.66. The disclosure for this sale can be found here. Insiders have sold a total of 60,166 shares of company stock worth $2,528,248 in the last quarter. 0.03% of the stock is owned by corporate insiders.
Several analysts recently commented on the stock. Barclays downgraded shares of Cisco Systems to a “hold” rating in a report on Thursday, July 9th. William Blair reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Thursday, August 13th. ValuEngine cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Robert W. Baird reiterated a “hold” rating and issued a $48.00 price objective on shares of Cisco Systems in a research note on Monday, August 10th. Finally, Bank of America dropped their price objective on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Hold” and an average target price of $47.45.
About Cisco Systems
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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