BBVA USA Bancshares Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 257,041 shares of the network equipment provider’s stock after selling 13,044 shares during the quarter. BBVA USA Bancshares Inc.’s holdings in Cisco Systems were worth $10,438,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CSCO. Nordea Investment Management AB increased its stake in Cisco Systems by 103.2% during the second quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock worth $2,249,322,000 after acquiring an additional 24,469,149 shares during the last quarter. First Trust Advisors LP increased its stake in Cisco Systems by 33.4% during the second quarter. First Trust Advisors LP now owns 22,129,042 shares of the network equipment provider’s stock worth $1,032,099,000 after acquiring an additional 5,546,028 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Cisco Systems by 20.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,137,775 shares of the network equipment provider’s stock worth $1,024,437,000 after acquiring an additional 3,834,365 shares during the last quarter. APG Asset Management N.V. increased its stake in Cisco Systems by 83.2% during the first quarter. APG Asset Management N.V. now owns 6,240,073 shares of the network equipment provider’s stock worth $245,297,000 after acquiring an additional 2,834,587 shares during the last quarter. Finally, AMF Pensionsforsakring AB acquired a new stake in Cisco Systems during the second quarter worth $129,419,000. 71.28% of the stock is owned by hedge funds and other institutional investors.
CSCO stock opened at $35.69 on Friday. The company has a market cap of $150.65 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.08 and a beta of 0.87. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $39.22 and a 200-day simple moving average of $43.23. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $50.28.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The business had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the firm posted $0.83 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Friday, October 2nd were given a dividend of $0.36 per share. The ex-dividend date was Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a yield of 4.03%. Cisco Systems’s dividend payout ratio (DPR) is 49.32%.
Several research firms have issued reports on CSCO. Royal Bank of Canada reissued a “buy” rating and set a $48.00 target price on shares of Cisco Systems in a research note on Thursday, August 13th. ValuEngine lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Bank of America lowered their price target on Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Finally, Citigroup lowered Cisco Systems from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $43.00 in a research report on Monday, October 12th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.05.
In related news, CEO Charles Robbins sold 7,806 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Irving Tan sold 4,141 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $42.08, for a total transaction of $174,253.28. Following the sale, the executive vice president now directly owns 125,860 shares of the company’s stock, valued at $5,296,188.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,166 shares of company stock valued at $2,528,248. 0.02% of the stock is owned by corporate 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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