Cisco Systems, Inc. (CSCO) Stake Decreased by First National Bank of Omaha
First National Bank of Omaha decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 573,125 shares of the network equipment provider’s stock after selling 55,618 shares during the period. Cisco Systems comprises 1.1% of First National Bank of Omaha’s holdings, making the stock its 13th largest position. First National Bank of Omaha’s holdings in Cisco Systems were worth $17,939,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CSCO. Financial Management Professionals Inc. boosted its position in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Watermark Asset Management Inc. bought a new stake in Cisco Systems during the first quarter worth approximately $122,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $128,000. Jackson Grant Investment Advisers Inc. boosted its stake in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock worth $128,000 after buying an additional 4,150 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Cisco Systems, Inc. (CSCO) traded down 0.617% during midday trading on Thursday, hitting $31.425. 7,046,707 shares of the stock were exchanged. The company has a market cap of $157.13 billion, a PE ratio of 15.952 and a beta of 1.24. The firm’s 50 day moving average price is $31.57 and its 200 day moving average price is $32.53. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. Cisco Systems also was the target of some unusual options trading activity on Wednesday. Traders bought 21,024 call options on the stock. This represents an increase of approximately 113% compared to the typical volume of 9,855 call options.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.67%. Cisco Systems’s dividend payout ratio is currently 58.29%.
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A number of equities research analysts recently commented on the stock. Citigroup Inc. set a $36.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, May 19th. Sanford C. Bernstein set a $38.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Berenberg Bank set a $33.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a report on Wednesday, April 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $35.31.
In other news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,179 shares of company stock valued at $12,503,407. Company 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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