Pennsylvania Trust Co Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Pennsylvania Trust Co increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 537,003 shares of the network equipment provider’s stock after purchasing an additional 15,519 shares during the quarter. Cisco Systems makes up 1.1% of Pennsylvania Trust Co’s holdings, making the stock its 24th largest position. Pennsylvania Trust Co’s holdings in Cisco Systems were worth $26,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen Asset Management LLC lifted its stake in shares of Cisco Systems by 1,546.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after purchasing an additional 45,351,980 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Cisco Systems by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock worth $1,624,264,000 after purchasing an additional 1,253,256 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Cisco Systems by 2.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock worth $1,036,035,000 after purchasing an additional 478,368 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Cisco Systems by 10.5% during the 2nd quarter. AQR Capital Management LLC now owns 16,527,442 shares of the network equipment provider’s stock worth $904,547,000 after purchasing an additional 1,573,540 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Cisco Systems by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 13,909,185 shares of the network equipment provider’s stock worth $761,250,000 after purchasing an additional 44,733 shares during the last quarter. Hedge funds and other institutional investors own 73.31% of the company’s stock.

Shares of CSCO stock traded up $0.45 during mid-day trading on Wednesday, reaching $46.84. The stock had a trading volume of 16,770,111 shares, compared to its average volume of 20,827,117. The business’s fifty day moving average is $48.23 and its 200-day moving average is $53.29. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The firm has a market cap of $201.74 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.29 and a beta of 1.28. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26.



Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 3.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio is presently 49.12%.

A number of brokerages recently weighed in on CSCO. Robert W. Baird set a $54.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research note on Friday, September 13th. Tigress Financial reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, June 27th. BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. Citigroup reduced their target price on Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reduced their target price on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $56.60.

In other news, CEO Charles Robbins sold 18,955 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now directly owns 277,548 shares in the company, valued at $12,967,042.56. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock worth $9,359,179 over the last three months. Corporate insiders own 0.03% of the company’s stock.

About Cisco Systems

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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