Nomura Asset Management Co. Ltd. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,154,325 shares of the network equipment provider’s stock after selling 50,539 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cisco Systems were worth $39,016,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CSCO. Vident Investment Advisory LLC increased its stake in Cisco Systems by 0.4% in the fourth quarter. Vident Investment Advisory LLC now owns 79,180 shares of the network equipment provider’s stock worth $2,393,000 after buying an additional 333 shares during the period. Dodge & Cox purchased a new stake in Cisco Systems during the fourth quarter worth about $1,950,935,000. River & Mercantile Asset Management LLP purchased a new stake in Cisco Systems during the fourth quarter worth about $3,442,000. Lincoln Capital Corp purchased a new stake in Cisco Systems during the fourth quarter worth about $3,083,000. Finally, Lincluden Management Ltd. increased its stake in Cisco Systems by 205.5% in the fourth quarter. Lincluden Management Ltd. now owns 333,371 shares of the network equipment provider’s stock worth $10,074,000 after buying an additional 224,260 shares during the period. 75.28% of the stock is owned by institutional investors and hedge funds.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 2.0065% during midday trading on Tuesday, hitting $31.2956. The stock had a trading volume of 11,041,802 shares. The company’s 50 day moving average price is $31.46 and its 200-day moving average price is $32.58. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The firm has a market capitalization of $156.26 billion, a PE ratio of 16.4714 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.78%. Cisco Systems’s payout ratio is presently 60.73%.
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Several equities research analysts have recently weighed in on the company. Instinet reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price for the company. in a research report on Wednesday, April 26th. Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Fourteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $35.47.
In other news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,179 shares of company stock worth $12,503,407. Company insiders own 0.11% of the company’s stock.
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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