Northwestern Mutual Investment Management Company LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,667 shares of the network equipment provider’s stock after selling 703 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Cisco Systems were worth $7,988,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Evolution Wealth Advisors LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at about $33,000. Lowe Wealth Advisors LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at about $38,000. Personal Wealth Partners purchased a new stake in Cisco Systems during the 2nd quarter valued at about $44,000. Ashburton Jersey Ltd purchased a new stake in Cisco Systems during the 2nd quarter valued at about $49,000. Finally, Cordasco Financial Network lifted its stake in Cisco Systems by 78.4% during the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares during the period. 73.79% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CSCO traded down $2.16 on Wednesday, reaching $46.21. 1,664,141 shares of the stock were exchanged, compared to its average volume of 20,396,303. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The firm has a market capitalization of $207.23 billion, a PE ratio of 16.30, a PEG ratio of 2.37 and a beta of 1.28. The company’s 50-day simple moving average is $47.51 and its two-hundred day simple moving average is $51.96. 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 (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter last year, the business earned $0.70 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
In other Cisco Systems news, EVP David Goeckeler sold 70,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the completion of the sale, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,130 shares of company stock valued at $9,359,179. Insiders own 0.03% of the company’s stock.
Several equities analysts have issued reports on the stock. Raymond James restated an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Evercore ISI assumed coverage on shares of Cisco Systems in a research note on Wednesday, September 11th. They set an “outperform” rating and a $60.00 target price on the stock. MKM Partners lowered their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Barclays assumed coverage on shares of Cisco Systems in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 target price on the stock. Finally, UBS Group set a $58.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $55.76.
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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