Cisco Systems, Inc. (CSCO) Position Boosted by Swedbank
Swedbank increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,744,329 shares of the network equipment provider’s stock after buying an additional 778,863 shares during the period. Cisco Systems accounts for approximately 1.4% of Swedbank’s investment portfolio, making the stock its 25th biggest position. Swedbank owned approximately 0.13% of Cisco Systems worth $211,097,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. increased its holdings in Cisco Systems by 17.7% during the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares during the last quarter. Watermark Asset Management Inc. acquired a new position in Cisco Systems during the first quarter worth $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares during the last quarter. Baystate Wealth Management LLC increased its holdings in Cisco Systems by 24.5% during the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after buying an additional 1,484 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Cisco Systems by 23.1% during the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after buying an additional 823 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the business’s 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 $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 in the last quarter. Corporate insiders own 0.11% of the company’s stock.
A number of equities analysts recently weighed in on CSCO shares. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price on the stock. in a report on Wednesday, August 30th. Credit Suisse Group restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 31st. William Blair restated an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Robert W. Baird reiterated a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a report on Monday, September 11th. Finally, Wunderlich upped their price objective on shares of Cisco Systems from $30.00 to $33.00 and gave the company a “hold” rating in a report on Friday, June 30th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $35.50.
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Cisco Systems, Inc. (CSCO) traded up 0.84% during mid-day trading on Friday, reaching $33.63. 14,802,671 shares of the company’s stock were exchanged. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The stock has a 50-day moving average of $31.72 and a 200-day moving average of $32.41. The stock has a market cap of $166.53 billion, a price-to-earnings ratio of 17.70 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be given a $0.29 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.45%. Cisco Systems’s payout ratio is currently 60.73%.
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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