Raymond James Trust N.A. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,534 shares of the network equipment provider’s stock after acquiring an additional 15,070 shares during the period. Cisco Systems comprises about 1.0% of Raymond James Trust N.A.’s portfolio, making the stock its 19th largest holding. Raymond James Trust N.A.’s holdings in Cisco Systems were worth $22,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Cedar Brook Financial Partners LLC boosted its holdings in shares of Cisco Systems by 3.3% during the 2nd quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock worth $313,000 after buying an additional 216 shares during the period. Ferris Capital LLC boosted its holdings in shares of Cisco Systems by 2.3% during the 2nd quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock worth $472,000 after buying an additional 224 shares during the period. Armbruster Capital Management Inc. boosted its holdings in shares of Cisco Systems by 3.2% during the 2nd quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock worth $339,000 after buying an additional 227 shares during the period. NEXT Financial Group Inc boosted its holdings in shares of Cisco Systems by 0.5% during the 2nd quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock worth $2,291,000 after buying an additional 230 shares during the period. Finally, Strategic Wealth Management Group LLC boosted its holdings in shares of Cisco Systems by 2.8% during the 2nd quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock worth $409,000 after buying an additional 235 shares during the period. 71.28% of the stock is owned by institutional investors.

In other Cisco Systems news, CEO Charles Robbins sold 7,806 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Irving Tan sold 4,141 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the sale, the executive vice president now directly owns 125,860 shares in the company, valued at $5,296,188.80. The disclosure for this sale can be found here. Insiders have sold a total of 60,166 shares of company stock worth $2,528,248 over the last ninety days. 0.03% of the stock is currently owned by insiders.

Shares of Cisco Systems stock opened at $40.16 on Friday. The firm has a market capitalization of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $39.95 and its 200 day moving average is $43.30. Cisco Systems, Inc. has a 1 year low of $32.40 and a 1 year high of $50.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. The company had revenue of $12.15 billion for the quarter, compared to analyst estimates of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same period in the previous year, the firm posted $0.83 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

CSCO has been the subject of several research analyst reports. Bank of America reduced their target price on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, September 16th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research note on Monday, August 10th. Credit Suisse Group lifted their price objective on shares of Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. William Blair reiterated a “market perform” rating on shares of Cisco Systems in a research note on Thursday, August 13th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price objective on shares of Cisco Systems in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.45.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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