FTB Advisors Inc. Raises Holdings in Cisco Systems, Inc. (CSCO)
FTB Advisors Inc. raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 300,607 shares of the network equipment provider’s stock after buying an additional 12,450 shares during the quarter. Cisco Systems comprises about 1.0% of FTB Advisors Inc.’s holdings, making the stock its 19th largest position. FTB Advisors Inc.’s holdings in Cisco Systems were worth $10,118,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Ameriprise Financial Inc. raised its stake in shares of Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after buying an additional 11,972,070 shares during the period. Vanguard Group Inc. raised its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares during the period. American Century Companies Inc. raised its stake in shares of Cisco Systems by 54.2% in the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after buying an additional 5,049,326 shares during the period. Janus Henderson Group PLC raised its stake in shares of Cisco Systems by 51.1% during the 2nd quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after purchasing an additional 4,577,831 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Cisco Systems by 36.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock valued at $419,903,000 after purchasing an additional 3,559,275 shares during the period. Hedge funds and other institutional investors own 75.64% of the company’s stock.
In other news, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now directly owns 257,476 shares in the company, valued at approximately $9,892,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 over the last 90 days. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. equities analysts predict that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a $0.29 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.93%. Cisco Systems’s dividend payout ratio is currently 60.10%.
A number of analysts recently issued reports on CSCO shares. Oppenheimer reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Friday, October 20th. Wells Fargo & Co reiterated an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, January 17th. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research note on Wednesday, December 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Thirteen analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.54.
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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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