Cisco Systems Inc. (CSCO) Shares Bought by TIAA CREF Trust Co. FSB MO
TIAA CREF Trust Co. FSB MO increased its position in Cisco Systems Inc. (NASDAQ:CSCO) by 7.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 140,139 shares of the network equipment provider’s stock after buying an additional 9,393 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in Cisco Systems were worth $4,021,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its position in Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock worth $851,976,000 after buying an additional 8,009,233 shares during the period. Franklin Resources Inc. raised its position in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock worth $1,959,666,000 after buying an additional 6,635,971 shares during the period. NN Investment Partners Holdings N.V. acquired a new position in Cisco Systems during the first quarter worth $120,699,000. Primecap Management Co. CA raised its position in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock worth $829,246,000 after buying an additional 4,013,625 shares during the period. Finally, Nordea Investment Management AB raised its position in Cisco Systems by 13.5% in the second quarter. Nordea Investment Management AB now owns 25,787,526 shares of the network equipment provider’s stock worth $739,844,000 after buying an additional 3,069,501 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.03% during trading on Friday, hitting $31.47. 13,073,224 shares of the stock traded hands. The firm has a market cap of $157.80 billion, a price-to-earnings ratio of 14.91 and a beta of 1.49. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95. The stock has a 50 day moving average of $31.33 and a 200 day moving average of $29.43.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. Analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is currently 49.06%.
A number of research analysts have weighed in on the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Sunday, September 4th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price objective on the stock. in a research note on Monday, September 5th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Tuesday, September 6th. Raymond James Financial Inc. raised their price objective on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. Finally, JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $32.50.
In other Cisco Systems news, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares in the company, valued at $6,998,308.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven M. West sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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