Diversified Trust Co Has $3.47 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)
Diversified Trust Co cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,910 shares of the network equipment provider’s stock after selling 12,381 shares during the period. Diversified Trust Co’s holdings in Cisco Systems were worth $3,471,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of CSCO. Dodge & Cox acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Norges Bank acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $1,306,395,000. Loomis Sayles & Co. L P increased its position in shares of Cisco Systems by 4.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 39,089,052 shares of the network equipment provider’s stock worth $1,181,271,000 after buying an additional 1,624,597 shares in the last quarter. Boston Partners increased its position in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock worth $768,153,000 after buying an additional 1,365,708 shares in the last quarter. 75.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (CSCO) traded up 0.76% during trading on Friday, hitting $31.80. The company had a trading volume of 16,929,451 shares. The firm has a 50 day moving average of $31.58 and a 200 day moving average of $32.49. The stock has a market cap of $159.00 billion, a PE ratio of 16.14 and a beta of 1.24. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s payout ratio is 58.29%.
A number of research analysts recently commented on CSCO shares. Instinet reissued a “neutral” rating and issued a $29.00 price target on shares of Cisco Systems in a report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a report on Monday, June 26th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target for the company. in a report on Wednesday, April 26th. Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $33.45 to $39.00 in a report on Monday, May 15th. Finally, Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares in the company, valued at approximately $5,587,674.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock valued at $12,503,407 in the last quarter. 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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