Today: Cisco Systems Inc. (CSCO) Stake Raised by Norinchukin Bank Today:

Today: Cisco Systems Inc. (CSCO) Stake Raised by Norinchukin Bank Today:

Norinchukin Bank The raised its position in Cisco Systems Inc. (NASDAQ:CSCO) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,776 shares of the network equipment provider’s stock after buying an additional 17,246 shares during the period. Norinchukin Bank The’s holdings in Cisco Systems were worth $15,687,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CSCO. St. Johns Investment Management Company LLC raised its position in Cisco Systems by 3.9% in the first quarter. St. Johns Investment Management Company LLC now owns 32,017 shares of the network equipment provider’s stock worth $912,000 after buying an additional 1,202 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Cisco Systems by 0.9% in the first quarter. Chesley Taft & Associates LLC now owns 26,702 shares of the network equipment provider’s stock valued at $760,000 after buying an additional 227 shares during the period. Hills Bank & Trust Co. raised its position in shares of Cisco Systems by 6.9% in the first quarter. Hills Bank & Trust Co. now owns 9,300 shares of the network equipment provider’s stock valued at $265,000 after buying an additional 600 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Cisco Systems by 0.6% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 33,298 shares of the network equipment provider’s stock valued at $948,000 after buying an additional 211 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of Cisco Systems by 1.2% in the first quarter. North Star Investment Management Corp. now owns 34,524 shares of the network equipment provider’s stock valued at $983,000 after buying an additional 400 shares during the period. 75.06% of the stock is currently owned by institutional investors.

Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.580% during midday trading on Monday, hitting $30.355. The company’s stock had a trading volume of 3,227,016 shares. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95. The company’s 50 day moving average price is $31.29 and its 200 day moving average price is $29.51. The firm has a market cap of $152.21 billion, a P/E ratio of 14.386 and a beta of 1.48.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. During the same period last year, the business earned $0.59 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.45%. Cisco Systems’s payout ratio is 49.06%.

CSCO has been the subject of a number of recent analyst reports. Morgan Stanley reiterated a “hold” rating and issued a $28.00 price objective on shares of Cisco Systems in a report on Monday, July 18th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $32.00 price target on shares of Cisco Systems in a report on Thursday, August 18th. Argus increased their price target on Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Raymond James Financial Inc. increased their price objective on Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $35.00 price objective on shares of Cisco Systems in a report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.50.

In related news, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the sale, the director now owns 23,104 shares of the company’s stock, valued at $722,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 62,910 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the sale, the senior vice president now directly owns 286,628 shares of the company’s stock, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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