Parkside Financial Bank & Trust grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,018 shares of the network equipment provider’s stock after buying an additional 675 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cisco Systems were worth $1,038,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Evolution Wealth Advisors LLC purchased a new stake in Cisco Systems during the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new position in Cisco Systems during the second quarter worth approximately $38,000. Personal Wealth Partners acquired a new position in Cisco Systems during the second quarter worth approximately $44,000. Ashburton Jersey Ltd acquired a new position in Cisco Systems during the second quarter worth approximately $49,000. Finally, Cordasco Financial Network increased 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 worth $56,000 after buying an additional 502 shares during the period. Institutional investors and hedge funds own 73.27% of the company’s stock.
In related news, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total value of $3,445,400.00. Following the sale, the executive vice president now directly owns 429,398 shares in the company, valued at approximately $21,134,969.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.04, for a total value of $948,508.20. The disclosure for this sale can be found here. In the last three months, insiders sold 193,130 shares of company stock worth $9,359,179. Company insiders own 0.03% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.43 billion during 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 for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors 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 dividend payout ratio (DPR) is 49.12%.
CSCO has been the topic of several research analyst reports. Cowen cut their price target on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Nomura lifted their price target on Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. MKM Partners dropped their target price on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, BidaskClub raised Cisco Systems from a “strong sell” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.92.
Cisco Systems 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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