Cisco Systems, Inc. (CSCO) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,501,569 shares of the network equipment provider’s stock after selling 2,917,634 shares during the quarter. Cisco Systems accounts for 1.0% of Bank of New York Mellon Corp’s portfolio, making the stock its 8th largest position. Bank of New York Mellon Corp owned about 2.31% of Cisco Systems worth $3,615,200,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Boston Partners increased its position in Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after acquiring an additional 23,002,159 shares during the period. Karp Capital Management Corp acquired a new stake in Cisco Systems in the 1st quarter valued at approximately $109,564,000. Acadian Asset Management LLC increased its position in Cisco Systems by 202.3% in the 2nd quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock valued at $87,922,000 after acquiring an additional 1,879,688 shares during the period. Sei Investments Co. increased its position in Cisco Systems by 62.6% in the 2nd quarter. Sei Investments Co. now owns 3,679,903 shares of the network equipment provider’s stock valued at $115,182,000 after acquiring an additional 1,416,225 shares during the period. Finally, Locust Wood Capital Advisers LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $31,483,000. Hedge funds and other institutional investors own 75.22% of the company’s stock.
Several research firms recently commented on CSCO. Robert W. Baird restated a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research report on Friday. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, August 10th. Sanford C. Bernstein restated an “outperform” rating and issued a $38.00 target price on shares of Cisco Systems in a research report on Sunday, August 20th. BMO Capital Markets restated a “hold” rating and issued a $32.00 target price on shares of Cisco Systems in a research report on Thursday, September 28th. Finally, Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price on the stock. in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $35.26.
In other news, SVP Karen Walker sold 23,110 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the transaction, the senior vice president now directly owns 192,774 shares in the company, valued at $6,180,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock worth $15,347,574 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.
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Cisco Systems, Inc. (NASDAQ:CSCO) opened at $33.99 on Monday. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.75. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $168,311.06, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. equities research analysts anticipate that Cisco Systems, Inc. will post 2.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. Cisco Systems’s payout ratio is presently 60.73%.
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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