Huntington National Bank boosted its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 30.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,856,633 shares of the network equipment provider’s stock after buying an additional 435,623 shares during the period. Cisco Systems makes up 1.1% of Huntington National Bank’s holdings, making the stock its 16th largest position. Huntington National Bank’s holdings in Cisco Systems were worth $58,892,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Cisco Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 317,302,573 shares of the network equipment provider’s stock worth $9,103,410,000 after buying an additional 6,634,140 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Cisco Systems by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 138,005,447 shares of the network equipment provider’s stock worth $3,959,376,000 after buying an additional 703,405 shares during the last quarter. FMR LLC raised its position in Cisco Systems by 6.8% in the second quarter. FMR LLC now owns 99,188,718 shares of the network equipment provider’s stock worth $2,845,725,000 after buying an additional 6,312,071 shares during the last quarter. BlackRock Fund Advisors raised its position in Cisco Systems by 5.9% in the second quarter. BlackRock Fund Advisors now owns 74,322,079 shares of the network equipment provider’s stock worth $2,132,300,000 after buying an additional 4,111,441 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Cisco Systems by 0.6% in the second quarter. BlackRock Group LTD now owns 54,764,681 shares of the network equipment provider’s stock worth $1,571,199,000 after buying an additional 349,182 shares during the last quarter. 74.13% of the stock is owned by institutional investors and hedge funds.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) opened at 30.53 on Tuesday. The company has a 50-day moving average of $30.36 and a 200-day moving average of $30.38. The stock has a market capitalization of $153.25 billion, a price-to-earnings ratio of 14.61 and a beta of 1.38. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same quarter last year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems Inc. will post $2.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.04 annualized dividend and a dividend yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is 49.52%.
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A number of equities research analysts recently issued reports on the company. FBN Securities set a $35.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, November 19th. RBC Capital Markets reiterated an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Wednesday, November 30th. Deutsche Bank AG restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research report on Tuesday, December 6th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $32.05 price target on the stock. in a research report on Tuesday, September 13th. Finally, Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.81.
In other news, SVP Karen Walker sold 1,793 shares of Cisco Systems stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $30.41, for a total value of $54,525.13. Following the sale, the senior vice president now owns 183,275 shares in the company, valued at $5,573,392.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.
Cisco Systems Company 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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