The Cisco Systems Inc. (CSCO) Stake Decreased by Mizuho Trust & Banking Co. Ltd.

The Cisco Systems Inc. (CSCO) Stake Decreased by Mizuho Trust & Banking Co. Ltd.

Mizuho Trust & Banking Co. Ltd. cut its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 7,976,319 shares of the network equipment provider’s stock after selling 72,652 shares during the period. Cisco Systems accounts for approximately 0.7% of Mizuho Trust & Banking Co. Ltd.’s investment portfolio, making the stock its 29th largest position. Mizuho Trust & Banking Co. Ltd.’s holdings in Cisco Systems were worth $228,841,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. raised its stake in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares during the period. Pinnacle Holdings LLC raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock worth $456,000 after buying an additional 81 shares during the period. Moody Lynn & Lieberson LLC raised its stake in shares of Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock worth $399,000 after buying an additional 83 shares during the period. Empirical Financial Services LLC raised its stake in shares of Cisco Systems by 1.1% in the second quarter. Empirical Financial Services LLC now owns 9,838 shares of the network equipment provider’s stock worth $282,000 after buying an additional 106 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Cisco Systems by 0.7% in the first quarter. WASHINGTON TRUST Co now owns 19,353 shares of the network equipment provider’s stock worth $551,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.69% on Friday, reaching $30.59. The company had a trading volume of 19,946,832 shares. The company has a market capitalization of $153.39 billion, a PE ratio of 14.50 and a beta of 1.49. The company’s 50-day moving average is $30.95 and its 200-day moving average is $29.67. 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, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same period last year, the business posted $0.59 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Tuesday, October 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a report on Monday, October 17th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price objective for the company in a report on Monday, October 3rd. Finally, Bank of America Corp. reissued a “neutral” rating and issued a $33.00 target price on shares of Cisco Systems in a report on Monday, September 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $32.56.

In related news, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the sale, the senior vice president now directly owns 229,905 shares in the company, valued at $6,998,308.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Karen Walker sold 10,244 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $31.17, for a total value of $319,305.48. Following the completion of the sale, the senior vice president now owns 138,625 shares in the company, valued at $4,320,941.25. 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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