ING Groep NV Sells 197,574 Shares of Cisco Systems, Inc. (CSCO)
ING Groep NV reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,486,433 shares of the network equipment provider’s stock after selling 197,574 shares during the period. Cisco Systems makes up 0.9% of ING Groep NV’s portfolio, making the stock its 20th biggest position. ING Groep NV’s holdings in Cisco Systems were worth $46,525,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. grew its holdings in Cisco Systems by 17.7% during the 1st 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. purchased a new position in shares of Cisco Systems in the 1st quarter worth approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after purchasing an additional 560 shares during the period. Baystate Wealth Management LLC boosted its holdings in shares of Cisco Systems by 24.5% in the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after purchasing an additional 1,484 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of Cisco Systems by 23.1% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after purchasing an additional 823 shares during the period. 75.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. In the last three months, insiders sold 485,138 shares of company stock worth $15,347,574. 0.11% of the stock is currently owned by insiders.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up 2.05% on Friday, hitting $33.37. 28,234,858 shares of the stock were exchanged. The stock has a market capitalization of $165.25 billion, a P/E ratio of 17.56 and a beta of 1.19. The company has a 50 day moving average of $31.72 and a 200 day moving average of $32.41. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
A number of equities analysts have recently commented on the company. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a research report on Wednesday, September 6th. Robert W. Baird reissued a “buy” rating and issued a $38.00 price target on shares of Cisco Systems in a research report on Monday, September 11th. Drexel Hamilton reissued a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a research report on Sunday, June 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and an average target price of $35.57.
Cisco Systems 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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