Cisco Systems Inc. (CSCO) Stake Increased by Country Club Trust Company n.a.
Country Club Trust Company n.a. raised its position in Cisco Systems Inc. (NASDAQ:CSCO) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 569,848 shares of the network equipment provider’s stock after buying an additional 20,188 shares during the period. Cisco Systems comprises about 2.4% of Country Club Trust Company n.a.’s portfolio, making the stock its 8th largest position. Country Club Trust Company n.a.’s holdings in Cisco Systems were worth $16,349,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Sun Life Financial INC acquired a new stake in Cisco Systems during the first quarter worth $63,773,000. Parasol Investment Management LLC raised its stake in Cisco Systems by 94.1% in the second quarter. Parasol Investment Management LLC now owns 5,240 shares of the network equipment provider’s stock worth $150,000 after buying an additional 2,540 shares during the last quarter. Vigilant Capital Management LLC raised its stake in Cisco Systems by 995.5% in the second quarter. Vigilant Capital Management LLC now owns 5,839 shares of the network equipment provider’s stock worth $168,000 after buying an additional 5,306 shares during the last quarter. D. Scott Neal Inc. increased its position in shares of Cisco Systems by 48.0% in the second quarter. D. Scott Neal Inc. now owns 6,171 shares of the network equipment provider’s stock worth $177,000 after buying an additional 2,000 shares during the period. Finally, Kings Point Capital Management increased its position in shares of Cisco Systems by 33.2% in the first quarter. Kings Point Capital Management now owns 6,715 shares of the network equipment provider’s stock worth $191,000 after buying an additional 1,672 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 2.26% during trading on Wednesday, reaching $30.34. The company’s stock had a trading volume of 36,897,296 shares. The company has a 50-day moving average price of $31.37 and a 200-day moving average price of $29.48. The stock has a market cap of $152.14 billion, a price-to-earnings ratio of 14.38 and a beta of 1.49. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. Cisco Systems’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.43%. Cisco Systems’s payout ratio is presently 49.06%.
CSCO has been the topic of a number of recent analyst reports. Credit Suisse Group AG restated a “sell” rating on shares of Cisco Systems in a research report on Thursday, June 16th. Morgan Stanley restated a “hold” rating and issued a $28.00 price target on shares of Cisco Systems in a research report on Monday, July 18th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $32.00 price target on shares of Cisco Systems in a research report on Thursday, August 18th. Argus boosted their price target on shares of Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Finally, Drexel Hamilton restated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.50.
In related news, CEO Charles Robbins sold 148,800 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the sale, the chief executive officer now owns 629,813 shares in the company, valued at approximately $19,530,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the sale, the director now owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Cisco Systems Company Profile
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.
Receive News & Stock Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related stocks with our FREE daily email newsletter.