Cisco Systems, Inc. (CSCO) Shares Sold by Edinburgh Partners Ltd
Edinburgh Partners Ltd decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 745,334 shares of the network equipment provider’s stock after selling 71,229 shares during the quarter. Cisco Systems comprises approximately 6.5% of Edinburgh Partners Ltd’s holdings, making the stock its 7th largest position. Edinburgh Partners Ltd’s holdings in Cisco Systems were worth $23,329,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Barnett & Company Inc. lifted its holdings in shares of Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the period. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at $122,000. Grove Bank & Trust lifted its holdings in shares of Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its holdings in shares of 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 valued at $145,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $35.88 on Friday. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $168,905.28, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $36.67.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.67% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm posted $0.61 EPS. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. equities research analysts expect that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s payout ratio is presently 60.10%.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research report on Wednesday. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 target price on the stock. in a research report on Monday, September 25th. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research report on Thursday, September 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $36.43.
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In other news, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is currently owned by insiders.
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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