TD Asset Management Inc. boosted its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,509,421 shares of the network equipment provider’s stock after buying an additional 173,982 shares during the period. TD Asset Management Inc. owned approximately 0.09% of Cisco Systems worth $129,375,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Cisco Systems during the second quarter valued at approximately $247,452,000. Lazard Asset Management LLC raised its position in shares of Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock worth $851,976,000 after buying an additional 8,009,233 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock worth $1,959,666,000 after buying an additional 6,635,971 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Cisco Systems during the first quarter worth about $120,699,000. Finally, Primecap Management Co. CA raised its position in shares of Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock worth $829,246,000 after buying an additional 4,013,625 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.464% during midday trading on Tuesday, reaching $31.525. The company’s stock had a trading volume of 11,674,097 shares. The firm has a 50 day moving average of $31.18 and a 200 day moving average of $29.22. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95. The firm has a market cap of $158.08 billion, a P/E ratio of 14.941 and a beta of 1.37.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. Analysts anticipate that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.26 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.35%. Cisco Systems’s dividend payout ratio is presently 49.06%.
A number of equities analysts recently issued reports on the stock. Bank of America Corp. reiterated a “neutral” rating and issued a $33.00 target price on shares of Cisco Systems in a research report on Monday. RBC Capital Markets reiterated an “outperform” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Friday. Raymond James Financial Inc. upped their price target on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Co. reissued an “outperform” rating and issued a $36.50 price target (up from $34.00) on shares of Cisco Systems in a report on Monday, September 19th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $32.43.
In other news, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $31.40, for a total value of $1,975,374.00. Following the completion of the sale, the senior vice president now owns 286,628 shares of the company’s stock, valued at $9,000,119.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.
About Cisco Systems
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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