Park National Corp OH lifted its position in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 15.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 477,860 shares of the network equipment provider’s stock after acquiring an additional 62,990 shares during the period. Cisco Systems accounts for 1.1% of Park National Corp OH’s portfolio, making the stock its 22nd biggest holding. Park National Corp OH’s holdings in Cisco Systems were worth $ 26,645,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Cisco Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $ 22,205,126,000 after acquiring an additional 11,804,677 shares during the last quarter. State Street Corp grew its position in shares of Cisco Systems by 3.2% during the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $ 11,794,751,000 after acquiring an additional 5,730,165 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cisco Systems by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $ 4,623,101,000 after acquiring an additional 1,380,066 shares during the last quarter. Northern Trust Corp grew its position in shares of Cisco Systems by 0.3% during the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $ 3,496,355,000 after acquiring an additional 183,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cisco Systems by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock worth $ 3,185,537,000 after acquiring an additional 2,336,314 shares during the last quarter. Institutional investors and hedge funds own 73.18% of the company stock.
CSCO has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of Cisco Systems from $ 45.00 to $ 40.00 and set a “sell” rating for the company in a report on Thursday, May 19th. StockNews.com initiated coverage on shares of Cisco Systems in a report on Thursday, March 31st. They issued a “buy” rating for the company. Evercore ISI reduced their price objective on shares of Cisco Systems from $ 62.00 to $ 50.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. Finally, Morgan Stanley reduced their price target on shares of Cisco Systems from $ 59.00 to $ 46.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 55.05.
CSCO stock opened at $ 43.39 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a one year low of $ 41.02 and a one year high of $ 64.29. The firm has a market capitalization of $ 179.68 billion, a PE ratio of 15.22, a P / E / G ratio of 2.23 and a beta of 0.99. The firm has a 50-day moving average of $ 47.76 and a two-hundred day moving average of $ 54.01.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.86 by $ 0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the prior year, the business posted $ 0.75 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a $ 0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $ 1.52 dividend on an annualized basis and a yield of 3.50%. Cisco Systems’s dividend payout ratio is currently 53.33%.
In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the company stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 43.79, for a total transaction of $ 556,877.43. Following the completion of the sale, the chief executive officer now owns 651,577 shares of the company stock, valued at $ 28,532,556.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of the company stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $ 43.34, for a total value of $ 160,358.00. Following the sale, the senior vice president now directly owns 80,784 shares of the company stock, valued at approximately $ 3,501,178.56. The disclosure for this sale can be found here. Insiders sold 25,326 shares of company stock worth $ 1,103,159 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.
About Cisco Systems: (Get Rating)
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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