US Bancorp DE decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,222,199 shares of the network equipment provider’s stock after selling 52,738 shares during the period. US Bancorp DE’s holdings in Cisco Systems were worth $218,330,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Kathmere Capital Management LLC purchased a new position in shares of Cisco Systems in the 3rd quarter valued at about $114,000. Thomasville National Bank increased its holdings in shares of Cisco Systems by 3.6% in the 4th quarter. Thomasville National Bank now owns 18,879 shares of the network equipment provider’s stock valued at $845,000 after acquiring an additional 663 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its holdings in shares of Cisco Systems by 6.6% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 6,452 shares of the network equipment provider’s stock valued at $289,000 after acquiring an additional 400 shares during the last quarter. Woodstock Corp increased its holdings in shares of Cisco Systems by 3.8% in the 4th quarter. Woodstock Corp now owns 202,079 shares of the network equipment provider’s stock valued at $9,043,000 after acquiring an additional 7,395 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Fulton Bank N.A. now owns 164,451 shares of the network equipment provider’s stock valued at $7,360,000 after acquiring an additional 571 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.
CSCO stock traded down $0.66 during midday trading on Tuesday, hitting $50.51. 325,177 shares of the stock were exchanged, compared to its average volume of 21,005,725. The stock’s 50-day moving average price is $51.33 and its 200-day moving average price is $45.58. The stock has a market cap of $213.24 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $53.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th were given a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, April 5th. This represents a $1.48 annualized dividend and a yield of 2.93%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.68%.
A number of research firms recently issued reports on CSCO. Wolfe Research upgraded Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research note on Thursday, April 22nd. Raymond James raised their price target on Cisco Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 10th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Thursday, March 11th. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Finally, Morgan Stanley increased their price objective on Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, April 22nd. Fourteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $50.71.
In other Cisco Systems news, CAO Prat Bhatt sold 6,273 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $296,148.33. Following the completion of the transaction, the chief accounting officer now owns 119,282 shares of the company’s stock, valued at $5,631,303.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Michele Burns sold 13,982 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $51.55, for a total value of $720,772.10. Following the transaction, the director now directly owns 70,468 shares of the company’s stock, valued at approximately $3,632,625.40. The disclosure for this sale can be found here. Insiders have sold 37,776 shares of company stock valued at $1,832,205 in the last three months. 0.02% of the stock is currently owned by company insiders.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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