Pitcairn Co. Has $911,000 Stake in Cisco Systems, Inc. (CSCO)

Pitcairn Co. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 35.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,089 shares of the network equipment provider’s stock after selling 15,683 shares during the period. Pitcairn Co.’s holdings in Cisco Systems were worth $911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barnett & Company Inc. grew its holdings in shares of Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares in the last quarter. Watermark Asset Management Inc. purchased a new position in shares of Cisco Systems during the first quarter worth about $122,000. Grove Bank & Trust grew its holdings in shares of Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after purchasing an additional 560 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its holdings in shares of Cisco Systems by 23.1% during the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after purchasing an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

In other news, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now directly owns 192,774 shares in the company, valued at $6,180,334.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 485,138 shares of company stock worth $15,347,574. Insiders own 0.05% of the company’s stock.

Several research analysts have recently commented on the company. BMO Capital Markets reissued a “hold” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Monday, October 23rd. Berenberg Bank reissued a “hold” rating and set a $33.00 price objective on shares of Cisco Systems in a report on Tuesday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Tuesday, October 24th. Cowen and Company reissued a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a report on Friday, November 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $35.26.

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Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $34.40 on Wednesday. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.75. The company has a market capitalization of $170,390.81, a price-to-earnings ratio of 15.86, a PEG ratio of 3.01 and a beta of 1.15. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. equities research analysts anticipate that Cisco Systems, Inc. will post 2.18 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio is currently 60.73%.

About Cisco Systems

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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