The Cisco Systems Inc. (CSCO) Position Lowered by Bedrijfstakpensioenfonds Voor DE Media PNO

The Cisco Systems Inc. (CSCO) Position Lowered by Bedrijfstakpensioenfonds Voor DE Media PNO

Bedrijfstakpensioenfonds Voor DE Media PNO reduced its position in Cisco Systems Inc. (NASDAQ:CSCO) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 642,800 shares of the network equipment provider’s stock after selling 35,000 shares during the period. Cisco Systems accounts for approximately 2.5% of Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings, making the stock its 14th largest position. Bedrijfstakpensioenfonds Voor DE Media PNO’s holdings in Cisco Systems were worth $18,441,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. State Street Corp increased its stake in shares of Cisco Systems by 0.7% in the first quarter. State Street Corp now owns 204,881,308 shares of the network equipment provider’s stock worth $5,832,976,000 after buying an additional 1,454,960 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Cisco Systems by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 137,302,042 shares of the network equipment provider’s stock valued at $3,908,989,000 after buying an additional 1,525,298 shares during the period. Dodge & Cox increased its stake in Cisco Systems by 2.0% in the first quarter. Dodge & Cox now owns 69,095,628 shares of the network equipment provider’s stock valued at $1,967,153,000 after buying an additional 1,341,950 shares during the period. Franklin Resources Inc. increased its stake in 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 valued at $1,959,666,000 after buying an additional 6,635,971 shares during the period. Finally, BlackRock Group LTD increased its stake in Cisco Systems by 0.9% in the first quarter. BlackRock Group LTD now owns 54,415,499 shares of the network equipment provider’s stock valued at $1,549,209,000 after buying an additional 459,754 shares during the period. Institutional investors own 75.00% of the company’s stock.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.03% during mid-day trading on Friday, reaching $31.47. The company’s stock had a trading volume of 13,073,224 shares. The company’s 50-day moving average is $31.33 and its 200 day moving average is $29.43. The firm has a market capitalization of $157.80 billion, a P/E ratio of 14.91 and a beta of 1.49. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year 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. On average, analysts expect that Cisco Systems Inc. will post $2.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.06%.

Several analysts have recently weighed in on CSCO shares. Credit Suisse Group AG reiterated a “sell” rating on shares of Cisco Systems in a research report on Thursday, June 16th. Morgan Stanley reiterated a “hold” rating and set a $28.00 target price on shares of Cisco Systems in a research report on Monday, July 18th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $32.00 target price on shares of Cisco Systems in a research report on Thursday, August 18th. Argus lifted their target price on Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.50.

In other Cisco Systems news, SVP Karen Walker sold 10,244 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total value of $319,305.48. Following the transaction, the senior vice president now directly owns 138,625 shares in the company, valued at approximately $4,320,941.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven M. West sold 15,000 shares of Cisco Systems stock in a transaction that occurred on 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 transaction, the director now owns 26,804 shares in the company, valued at $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Cisco Systems Company Profile

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.

Related posts

Leave a Comment