Parkside Financial Bank & Trust increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,674 shares of the network equipment provider’s stock after buying an additional 3,260 shares during the period. Parkside Financial Bank & Trust’s holdings in Cisco Systems were worth $796,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $231,000. Barnett & Company Inc. boosted its holdings in shares of Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $104,000. Finally, Manchester Capital Management LLC raised its stake in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.
In other news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at approximately $3,254,324.16. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 over the last three months. Corporate insiders own 0.05% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. equities analysts predict that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio is presently 60.10%.
CSCO has been the topic of a number of research reports. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research note on Wednesday, September 6th. Deutsche Bank reiterated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research report on Wednesday, September 6th. KeyCorp restated a “buy” rating on shares of Cisco Systems in a research report on Friday, September 8th. Robert W. Baird restated a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Monday, September 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.35.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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