Asset Dedication LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,347 shares of the network equipment provider’s stock after selling 3,638 shares during the quarter. Asset Dedication LLC’s holdings in Cisco Systems were worth $1,905,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Cisco Systems by 103.2% during the second quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock worth $2,249,322,000 after acquiring an additional 24,469,149 shares during the last quarter. First Trust Advisors LP increased its holdings in Cisco Systems by 33.4% in the second quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock valued at $1,032,099,000 after purchasing an additional 5,546,028 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Cisco Systems by 20.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,137,775 shares of the network equipment provider’s stock valued at $1,024,437,000 after purchasing an additional 3,834,365 shares during the last quarter. APG Asset Management N.V. increased its holdings in Cisco Systems by 83.2% in the first quarter. APG Asset Management N.V. now owns 6,240,073 shares of the network equipment provider’s stock valued at $245,297,000 after purchasing an additional 2,834,587 shares during the last quarter. Finally, AMF Pensionsforsakring AB bought a new stake in Cisco Systems in the second quarter valued at about $129,419,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.
In related news, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, EVP Irving Tan sold 4,141 shares of Cisco Systems stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $42.08, for a total value of $174,253.28. Following the completion of the transaction, the executive vice president now directly owns 125,860 shares of the company’s stock, valued at $5,296,188.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,166 shares of company stock valued at $2,528,248. 0.03% of the stock is owned by corporate insiders.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. The firm had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. During the same quarter last year, the business posted $0.83 EPS. Sell-side analysts predict that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.67%. The ex-dividend date is Thursday, October 1st. Cisco Systems’s dividend payout ratio is currently 49.32%.
CSCO has been the subject of a number of recent analyst reports. Barclays downgraded Cisco Systems to a “hold” rating in a report on Thursday, July 9th. Citigroup downgraded Cisco Systems from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $43.00 in a report on Monday, October 12th. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. ValuEngine downgraded Cisco Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $45.00 price objective on shares of Cisco Systems in a report on Thursday, August 13th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Hold” and an average price target of $47.05.
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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