OLD National Bancorp IN reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,470 shares of the network equipment provider’s stock after selling 12,914 shares during the quarter. OLD National Bancorp IN’s holdings in Cisco Systems were worth $5,826,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CSCO. Cordasco Financial Network boosted its holdings in Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Cisco Systems by 21.1% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock worth $75,000 after purchasing an additional 258,073 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Cisco Systems by 408.5% in the third quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock worth $77,000 after purchasing an additional 1,254 shares in the last quarter. Phocas Financial Corp. bought a new stake in Cisco Systems in the second quarter worth $82,000. Finally, Neo Ivy Capital Management bought a new stake in Cisco Systems in the second quarter worth $89,000. 72.55% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on CSCO shares. Royal Bank of Canada set a $56.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, November 13th. Barclays upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a report on Thursday, December 19th. BidaskClub cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday. KeyCorp decreased their price objective on shares of Cisco Systems from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Bank of America cut shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company. Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $54.69.
CSCO stock opened at $49.05 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. Cisco Systems, Inc. has a 52-week low of $43.40 and a 52-week high of $58.26. The company has a 50-day moving average of $46.53 and a two-hundred day moving average of $49.11. The stock has a market capitalization of $202.74 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.
In other news, CAO Prat Bhatt sold 39,343 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the transaction, the chief financial officer now directly owns 352,587 shares of the company’s stock, valued at approximately $15,933,406.53. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock valued at $17,474,321 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.
Cisco Systems Company 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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