Rockefeller Financial Services Inc. Acquires 50,020 Shares of Cisco Systems Inc. (CSCO)
Rockefeller Financial Services Inc. raised its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 12.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 439,424 shares of the network equipment provider’s stock after buying an additional 50,020 shares during the period. Rockefeller Financial Services Inc.’s holdings in Cisco Systems were worth $12,607,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its position in Cisco Systems by 0.7% in the first quarter. State Street Corp now owns 204,881,308 shares of the network equipment provider’s stock valued at $5,832,976,000 after buying an additional 1,454,960 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Cisco Systems by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 137,302,042 shares of the network equipment provider’s stock valued at $3,908,989,000 after buying an additional 1,525,298 shares during the period. Dodge & Cox raised its position in Cisco Systems by 2.0% in the first quarter. Dodge & Cox now owns 69,095,628 shares of the network equipment provider’s stock valued at $1,967,153,000 after buying an additional 1,341,950 shares during the period. Franklin Resources Inc. raised its position in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock valued at $1,959,666,000 after buying an additional 6,635,971 shares during the period. Finally, BlackRock Group LTD raised its position in Cisco Systems by 0.9% in the first quarter. BlackRock Group LTD now owns 54,415,499 shares of the network equipment provider’s stock valued at $1,549,209,000 after buying an additional 459,754 shares during the period. 75.00% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.05% during trading on Friday, reaching $31.72. 30,380,612 shares of the company were exchanged. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The firm’s 50-day moving average is $31.24 and its 200 day moving average is $29.30. The company has a market capitalization of $159.06 billion, a P/E ratio of 15.03 and a beta of 1.37.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts anticipate that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.28%. Cisco Systems’s dividend payout ratio is presently 49.06%.
Several research analysts recently issued reports on CSCO shares. Credit Suisse Group AG reissued a “sell” rating on shares of Cisco Systems in a research report on Thursday, June 16th. Morgan Stanley reaffirmed a “hold” rating and set a $28.00 price objective on shares of Cisco Systems in a report on Monday, July 18th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Thursday, August 18th. Argus raised their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have given a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $32.43.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares in the company, valued at $809,480.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark D. Chandler sold 25,024 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.44, for a total transaction of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares of the company’s stock, valued at approximately $6,998,308.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
About Cisco Systems
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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