Parkside Financial Bank & Trust lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,018 shares of the network equipment provider’s stock after buying an additional 675 shares during the period. Parkside Financial Bank & Trust’s holdings in Cisco Systems were worth $1,038,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC acquired a new stake in Cisco Systems during the second quarter valued at $33,000. Lowe Wealth Advisors LLC acquired a new stake in Cisco Systems during the second quarter valued at $38,000. Personal Wealth Partners acquired a new stake in Cisco Systems during the second quarter valued at $44,000. Ashburton Jersey Ltd acquired a new stake in Cisco Systems during the second quarter valued at $49,000. Finally, Cordasco Financial Network boosted its position in Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after purchasing an additional 502 shares during the last quarter. 73.27% of the stock is owned by institutional investors and hedge funds.
In other Cisco Systems news, EVP Mark D. Chandler sold 546 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total value of $3,270,400.00. Following the transaction, the chief financial officer now directly owns 277,548 shares in the company, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock worth $9,359,179 over the last three months. 0.03% of the stock is owned by company insiders.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. Cisco Systems’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s payout ratio is currently 49.12%.
CSCO has been the subject of a number of research reports. Evercore ISI initiated coverage on Cisco Systems in a research report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price objective for the company. KeyCorp cut their target price on Cisco Systems from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Cowen cut their target price on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Barclays initiated coverage on Cisco Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 target price on the stock. Finally, Robert W. Baird set a $54.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.92.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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