Strs Ohio Buys 634,331 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)
Strs Ohio increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 5,991,681 shares of the network equipment provider’s stock after buying an additional 634,331 shares during the period. Cisco Systems makes up 0.9% of Strs Ohio’s holdings, making the stock its 19th largest position. Strs Ohio’s holdings in Cisco Systems were worth $202,518,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Aspiriant LLC increased its stake in Cisco Systems by 5.3% in the fourth quarter. Aspiriant LLC now owns 29,617 shares of the network equipment provider’s stock valued at $895,000 after buying an additional 1,502 shares in the last quarter. Glenview Trust Co acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $17,046,000. Federated Investors Inc. PA increased its stake in Cisco Systems by 4.4% in the fourth quarter. Federated Investors Inc. PA now owns 2,700,421 shares of the network equipment provider’s stock valued at $81,608,000 after buying an additional 112,677 shares in the last quarter. FMR LLC increased its stake in Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock valued at $3,150,500,000 after buying an additional 1,462,365 shares in the last quarter. Finally, Capital Analysts LLC increased its stake in Cisco Systems by 1.1% in the fourth quarter. Capital Analysts LLC now owns 40,529 shares of the network equipment provider’s stock valued at $1,225,000 after buying an additional 448 shares in the last quarter. Institutional investors own 75.32% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at 31.42 on Friday. The stock has a market cap of $157.10 billion, a price-to-earnings ratio of 15.95 and a beta of 1.24. The stock’s 50 day moving average price is $31.99 and its 200-day moving average price is $32.31. Cisco Systems, Inc. has a 1-year low of $28.88 and a 1-year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 58.29%.
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CSCO has been the topic of several recent research reports. Instinet reiterated a “neutral” rating and set a $29.00 target price on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a research report on Wednesday, April 26th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Finally, Berenberg Bank began coverage on shares of Cisco Systems in a research report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.23.
In other news, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’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 value of $2,943,956.40. Following the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,179 shares of company stock worth $12,503,407. Corporate insiders own 0.11% of the company’s stock.
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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