Park National Corp OH cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 757,567 shares of the network equipment provider’s stock after selling 26,543 shares during the period. Cisco Systems accounts for about 1.6% of Park National Corp OH’s investment portfolio, making the stock its 14th biggest holding. Park National Corp OH’s holdings in Cisco Systems were worth $29,840,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. Cedar Brook Financial Partners LLC increased its holdings in shares of Cisco Systems by 3.3% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock valued at $313,000 after acquiring an additional 216 shares during the period. Ferris Capital LLC increased its stake in Cisco Systems by 2.3% in the 2nd quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock valued at $472,000 after buying an additional 224 shares during the period. Armbruster Capital Management Inc. increased its stake in Cisco Systems by 3.2% in the 2nd quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock valued at $339,000 after buying an additional 227 shares during the period. NEXT Financial Group Inc increased its stake in Cisco Systems by 0.5% in the 2nd quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock valued at $2,291,000 after buying an additional 230 shares during the period. Finally, Strategic Wealth Management Group LLC increased its stake in Cisco Systems by 2.8% in the 2nd quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after buying an additional 235 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the topic of several recent research reports. TheStreet raised shares of Cisco Systems from a “c+” rating to a “b-” rating in a research note on Thursday, June 4th. Barclays cut shares of Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Monday, August 10th. UBS Group assumed coverage on shares of Cisco Systems in a research note on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $47.68.
Shares of NASDAQ CSCO traded down $0.59 on Thursday, reaching $38.80. 20,740,537 shares of the company traded hands, compared to its average volume of 25,925,926. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $50.28. The company has a 50 day moving average of $41.20 and a 200 day moving average of $43.09. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $164.26 billion, a PE ratio of 14.75, a P/E/G ratio of 2.06 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The company had revenue of $12.15 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the company posted $0.83 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio is currently 49.32%.
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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