Unigestion Holding SA trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 51.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,873 shares of the network equipment provider’s stock after selling 10,603 shares during the quarter. Unigestion Holding SA’s holdings in Cisco Systems were worth $488,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in shares of Cisco Systems by 1,546.1% during the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after acquiring an additional 45,351,980 shares during the last quarter. Parnassus Investments CA bought a new position in shares of Cisco Systems during the third quarter worth about $444,882,000. Thoroughbred Financial Services LLC raised its position in shares of Cisco Systems by 5,677.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after acquiring an additional 3,553,686 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Cisco Systems during the second quarter worth about $125,277,000. Finally, Railway Pension Investments Ltd bought a new position in shares of Cisco Systems during the second quarter worth about $10,371,000. 73.27% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Evercore ISI assumed coverage on Cisco Systems in a research report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price objective for the company. Cowen lowered their price objective on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. UBS Group set a $58.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays assumed coverage on Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price objective for the company. Finally, KeyCorp lowered their price objective on Cisco Systems from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $55.92.
CSCO stock traded up $0.41 during mid-day trading on Friday, reaching $48.83. The company’s stock had a trading volume of 14,406,400 shares, compared to its average volume of 20,421,934. The business’s 50 day moving average price is $47.56 and its 200 day moving average price is $52.07. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 49.12%.
In other Cisco Systems news, SVP Irving Tan sold 22,896 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $1,131,520.32. Following the sale, the senior vice president now directly owns 154,819 shares in the company, valued at $7,651,154.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 18,955 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.04, for a total value of $948,508.20. The disclosure for this sale can be found here. In the last three months, insiders sold 193,130 shares of company stock worth $9,359,179. Insiders own 0.03% of the company’s stock.
Cisco Systems 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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