Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in Cisco Systems, Inc. (CSCO)
Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,423,839 shares of the network equipment provider’s stock after purchasing an additional 367,104 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.31% of Cisco Systems worth $482,766,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Barnett & Company Inc. increased its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC increased its stake in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the period. Grove Bank & Trust increased its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Watermark Asset Management Inc. bought a new stake in Cisco Systems in the first quarter valued at about $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares during the period. Institutional investors own 75.14% of the company’s stock.
CSCO has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Deutsche Bank AG restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target on the stock. in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.73.
In related news, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now owns 552,694 shares in the company, valued at $17,719,369.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,138 shares of company stock worth $7,562,574. 0.05% of the stock is owned by corporate insiders.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $36.45 on Thursday. The stock has a market cap of $181,183.75, a P/E ratio of 16.89, a P/E/G ratio of 3.32 and a beta of 1.15. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $36.97.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. research analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.18%. Cisco Systems’s dividend payout ratio is presently 60.10%.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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