Cisco Systems, Inc. (CSCO) Position Reduced by Trillium Asset Management LLC
Trillium Asset Management LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 573,727 shares of the network equipment provider’s stock after selling 146,368 shares during the quarter. Cisco Systems accounts for 1.1% of Trillium Asset Management LLC’s holdings, making the stock its 25th largest position. Trillium Asset Management LLC’s holdings in Cisco Systems were worth $19,294,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of CSCO. Burns J W & Co. Inc. NY grew its position in Cisco Systems by 3.0% in the second quarter. Burns J W & Co. Inc. NY now owns 10,680 shares of the network equipment provider’s stock worth $334,000 after buying an additional 315 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC acquired a new position in Cisco Systems in the second quarter worth approximately $319,000. Beacon Financial Group grew its position in Cisco Systems by 2.9% in the second quarter. Beacon Financial Group now owns 24,880 shares of the network equipment provider’s stock worth $781,000 after buying an additional 700 shares during the last quarter. First Command Bank grew its position in Cisco Systems by 113.0% in the second quarter. First Command Bank now owns 23,828 shares of the network equipment provider’s stock worth $747,000 after buying an additional 12,641 shares during the last quarter. Finally, Fox Run Management L.L.C. grew its position in Cisco Systems by 22.3% in the second quarter. Fox Run Management L.L.C. now owns 15,900 shares of the network equipment provider’s stock worth $498,000 after buying an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 75.60% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at $40.87 on Tuesday. The stock has a market cap of $202,045.83, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 3.70 and a beta of 1.20. Cisco Systems, Inc. has a 52 week low of $29.84 and a 52 week high of $40.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.
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, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. equities research analysts expect that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the sale, the director now owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock valued at $12,892,271 in the last three months. Company insiders own 0.05% of the company’s stock.
Several research firms have issued reports on CSCO. Piper Jaffray Companies restated an “overweight” rating and issued a $44.00 price target on shares of Cisco Systems in a research report on Wednesday, January 10th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $38.99 to $46.00 in a research report on Friday, January 5th. They noted that the move was a valuation call. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research report on Wednesday, December 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $37.93.
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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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