Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,404 shares of the network equipment provider’s stock after selling 3,130 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Cisco Systems were worth $409,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA raised its stake in shares of Cisco Systems by 220,000.0% in the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock valued at $107,000 after purchasing an additional 2,200 shares in the last quarter. JJJ Advisors Inc. acquired a new position in shares of Cisco Systems in the second quarter valued at $110,000. Legacy Advisors LLC raised its stake in shares of Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after purchasing an additional 2,940 shares in the last quarter. Shamrock Asset Management LLC raised its stake in shares of Cisco Systems by 3,623.0% in the third quarter. Shamrock Asset Management LLC now owns 3,723 shares of the network equipment provider’s stock valued at $181,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Landaas & Co. WI ADV acquired a new position in shares of Cisco Systems in the second quarter valued at $184,000. Institutional investors own 69.25% of the company’s stock.
A number of analysts have weighed in on CSCO shares. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Piper Jaffray Companies set a $53.00 price target on Cisco Systems and gave the company an “overweight” rating in a research report on Monday, October 1st. Robert W. Baird reiterated an “outperform” rating and issued a $53.00 price target on shares of Cisco Systems in a research report on Thursday, November 29th. KeyCorp upped their price target on Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 15th. Finally, Wolfe Research started coverage on Cisco Systems in a research report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $51.05.
In related news, EVP Mark D. Chandler sold 4,373 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $44.89, for a total value of $196,303.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Michele Burns sold 4,744 shares of the firm’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $44.06, for a total value of $209,020.64. Following the completion of the transaction, the director now owns 74,164 shares in the company, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,067 shares of company stock worth $7,804,662. 0.03% of the stock is owned by company insiders.
Shares of CSCO stock opened at $43.49 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $208.69 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. Cisco Systems, Inc. has a 52 week low of $37.35 and a 52 week high of $49.47.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s dividend payout ratio is 56.41%.
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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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