OLD Republic International Corp Has $45,610,000 Stake in Cisco Systems, Inc. (CSCO)
OLD Republic International Corp maintained its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,349,400 shares of the network equipment provider’s stock at the end of the first quarter. Cisco Systems comprises about 1.6% of OLD Republic International Corp’s investment portfolio, making the stock its 20th largest position. OLD Republic International Corp’s holdings in Cisco Systems were worth $45,610,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. Cambridge Trust Co. increased its position in Cisco Systems by 49.8% in the first quarter. Cambridge Trust Co. now owns 563,269 shares of the network equipment provider’s stock valued at $19,038,000 after buying an additional 187,317 shares in the last quarter. Garde Capital Inc. increased its position in Cisco Systems by 1.9% in the first quarter. Garde Capital Inc. now owns 10,942 shares of the network equipment provider’s stock valued at $370,000 after buying an additional 204 shares in the last quarter. American Beacon Advisors Inc. bought a new position in Cisco Systems during the first quarter valued at about $174,000. Farmers National Bank increased its position in Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after buying an additional 83 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in Cisco Systems during the first quarter valued at about $243,000. 75.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.888% during mid-day trading on Wednesday, reaching $32.375. 7,661,159 shares of the company were exchanged. The firm has a market capitalization of $161.88 billion, a PE ratio of 16.434 and a beta of 1.24. The company’s 50 day moving average price is $31.53 and its 200 day moving average price is $32.57. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. Cisco Systems also was the target of some unusual options trading activity on Tuesday. Stock traders purchased 24,568 put options on the company. This represents an increase of approximately 223% compared to the average volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.61%. Cisco Systems’s dividend payout ratio is currently 58.29%.
Several equities analysts have issued reports on the stock. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a research note on Saturday, July 1st. BidaskClub upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Wednesday. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Finally, Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective for the company. in a research note on Wednesday. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares in the company, valued at approximately $5,587,674.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 in the last 90 days. 0.11% of the stock is owned by company insiders.
About Cisco Systems
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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