Trust Investment Advisors Buys 1,900 Shares of Cisco Systems, Inc. (CSCO)
Trust Investment Advisors increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,550 shares of the network equipment provider’s stock after acquiring an additional 1,900 shares during the period. Cisco Systems comprises about 1.9% of Trust Investment Advisors’ portfolio, making the stock its 7th largest position. Trust Investment Advisors’ holdings in Cisco Systems were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its stake in Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after buying an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. acquired a new stake in Cisco Systems in the 1st quarter valued at $5,331,000. Winfield Associates Inc. increased its stake in Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after buying an additional 2,557 shares during the last quarter. United Capital Financial Advisers LLC increased its stake in Cisco Systems by 2.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after buying an additional 56,027 shares during the last quarter. Finally, KBC Group NV increased its stake in Cisco Systems by 29.6% in the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares during the last quarter. Institutional investors and hedge funds own 71.56% of the company’s stock.
CSCO has been the topic of several recent research reports. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday, July 17th. Morgan Stanley lowered their price target on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, July 19th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a research note on Thursday, August 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.76.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. Cisco Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.
In related news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the sale, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock valued at $21,322,282 in the last ninety days. 0.05% of the stock is currently owned by insiders.
About Cisco Systems
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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