Fulton Bank N.A. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,196 shares of the network equipment provider’s stock after selling 18,006 shares during the quarter. Fulton Bank N.A.’s holdings in Cisco Systems were worth $8,702,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CSCO. Green Alpha Advisors LLC grew its position in Cisco Systems by 10.2% during the 2nd quarter. Green Alpha Advisors LLC now owns 20,430 shares of the network equipment provider’s stock worth $1,057,000 after acquiring an additional 1,893 shares during the last quarter. Centre Asset Management LLC bought a new stake in shares of Cisco Systems during the second quarter worth about $2,483,000. Apella Capital LLC acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $432,000. HBW Advisory Services LLC raised its holdings in Cisco Systems by 60.3% in the 2nd quarter. HBW Advisory Services LLC now owns 8,814 shares of the network equipment provider’s stock valued at $456,000 after buying an additional 3,317 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in Cisco Systems by 43.0% during the 2nd quarter. DnB Asset Management AS now owns 2,783,837 shares of the network equipment provider’s stock worth $144,036,000 after buying an additional 836,474 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Cisco Systems from $54.00 to $59.50 and gave the company a “buy” rating in a research note on Thursday, August 17th. Oppenheimer restated an “outperform” rating and issued a $58.00 price objective on shares of Cisco Systems in a report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Bank of America increased their target price on shares of Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Rosenblatt Securities boosted their price target on shares of Cisco Systems from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.43.
Cisco Systems Stock Up 0.2 %
Cisco Systems stock opened at $56.37 on Friday. The firm has a market capitalization of $228.57 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. The firm’s fifty day moving average price is $54.00 and its two-hundred day moving average price is $51.05. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $58.19. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.05 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.77%. Cisco Systems’s payout ratio is 50.81%.
Insiders Place Their Bets
In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the sale, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the transaction, the chief executive officer now directly owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the transaction, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. Insiders have sold a total of 54,438 shares of company stock worth $2,948,779 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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