Northern Trust Corp Has $2.52 Billion Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Northern Trust Corp reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,701,740 shares of the network equipment provider’s stock after selling 3,552,530 shares during the quarter. Northern Trust Corp owned approximately 1.20% of Cisco Systems worth $2,519,828,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CSCO. Sax Wealth Advisors LLC boosted its position in Cisco Systems by 7.7% during the second quarter. Sax Wealth Advisors LLC now owns 5,490 shares of the network equipment provider’s stock valued at $284,000 after acquiring an additional 394 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Cisco Systems by 28.1% in the second quarter. Osaic Holdings Inc. now owns 2,850,476 shares of the network equipment provider’s stock worth $115,291,000 after purchasing an additional 625,756 shares in the last quarter. Altrius Capital Management Inc lifted its stake in Cisco Systems by 8.7% in the second quarter. Altrius Capital Management Inc now owns 78,305 shares of the network equipment provider’s stock valued at $4,052,000 after buying an additional 6,255 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Cisco Systems by 6.0% during the 2nd quarter. Bessemer Group Inc. now owns 197,506 shares of the network equipment provider’s stock worth $10,219,000 after buying an additional 11,112 shares in the last quarter. Finally, Delta Asset Management LLC TN grew its position in shares of Cisco Systems by 48.1% during the 2nd quarter. Delta Asset Management LLC TN now owns 15,699 shares of the network equipment provider’s stock worth $812,000 after buying an additional 5,100 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO stock traded down $0.22 during mid-day trading on Tuesday, hitting $48.05. The company had a trading volume of 1,420,333 shares, compared to its average volume of 18,383,459. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. The firm has a market cap of $194.84 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The stock’s fifty day moving average price is $53.21 and its two-hundred day moving average price is $52.33.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The business had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a return on equity of 34.92% and a net margin of 23.40%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 3.57 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Thursday, January 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, January 3rd. Cisco Systems’s dividend payout ratio is currently 47.13%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the transaction, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CSCO. StockNews.com started coverage on shares of Cisco Systems in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Citigroup raised their price objective on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Tigress Financial upped their target price on Cisco Systems from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, September 22nd. Piper Sandler lowered their price objective on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Finally, Raymond James downgraded shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average target price of $58.38.

Cisco Systems Profile

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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.