Psagot Investment House Ltd. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 74.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,934 shares of the network equipment provider’s stock after selling 1,015,746 shares during the period. Psagot Investment House Ltd.’s holdings in Cisco Systems were worth $14,060,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. APG Asset Management N.V. lifted its stake in shares of Cisco Systems by 83.2% in the 1st quarter. APG Asset Management N.V. now owns 6,240,073 shares of the network equipment provider’s stock worth $245,297,000 after acquiring an additional 2,834,587 shares during the period. Thomasville National Bank lifted its stake in shares of Cisco Systems by 1.7% in the 2nd quarter. Thomasville National Bank now owns 17,868 shares of the network equipment provider’s stock worth $834,000 after acquiring an additional 306 shares during the period. M&R Capital Management Inc. lifted its stake in shares of Cisco Systems by 5.7% in the 2nd quarter. M&R Capital Management Inc. now owns 14,649 shares of the network equipment provider’s stock worth $683,000 after acquiring an additional 790 shares during the period. Confluence Investment Management LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth $6,939,000. Finally, First Financial Bank Trust Division lifted its stake in shares of Cisco Systems by 4.2% in the 2nd quarter. First Financial Bank Trust Division now owns 207,625 shares of the network equipment provider’s stock worth $9,683,000 after acquiring an additional 8,394 shares during the period. 71.28% of the stock is currently owned by institutional investors.
In other news, CEO Charles Robbins sold 7,806 shares of Cisco Systems stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 45,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Over the last quarter, insiders have sold 60,166 shares of company stock valued at $2,528,248. Insiders own 0.02% of the company’s stock.
CSCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Bank of America reduced their target price 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. The Goldman Sachs Group restated a “neutral” rating and issued a $45.00 target price on shares of Cisco Systems in a research note on Thursday, August 13th. Barclays cut shares of Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Finally, Wolfe Research cut shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 price objective for the company. in a research note on Friday, September 18th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $47.05.
NASDAQ:CSCO opened at $35.69 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $39.22 and a two-hundred day moving average price of $43.23. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $50.28. The company has a market capitalization of $150.65 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.87.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.03%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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