First American Bank Purchases Shares of 211,471 Cisco Systems, Inc. (CSCO)

First American Bank Purchases Shares of 211,471 Cisco Systems, Inc. (CSCO)

[ad_1]

First American Bank purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 211,471 shares of the network equipment provider’s stock, valued at approximately $10,288,000.

A number of other large investors have also recently bought and sold shares of CSCO. Franklin Street Advisors Inc. NC grew its position in Cisco Systems by 0.3% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 443,229 shares of the network equipment provider’s stock valued at $21,563,000 after purchasing an additional 1,131 shares during the last quarter. Hemenway Trust Co LLC grew its position in Cisco Systems by 1.0% during the 3rd quarter. Hemenway Trust Co LLC now owns 117,243 shares of the network equipment provider’s stock valued at $5,704,000 after purchasing an additional 1,132 shares during the last quarter. Forbes J M & Co. LLP grew its position in Cisco Systems by 0.5% during the 2nd quarter. Forbes J M & Co. LLP now owns 217,760 shares of the network equipment provider’s stock valued at $9,370,000 after purchasing an additional 1,163 shares during the last quarter. Peachtree Investment Advisors Inc. grew its position in Cisco Systems by 2.7% during the 2nd quarter. Peachtree Investment Advisors Inc. now owns 44,093 shares of the network equipment provider’s stock valued at $1,897,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Optimum Investment Advisors grew its position in Cisco Systems by 1.3% during the 3rd quarter. Optimum Investment Advisors now owns 93,657 shares of the network equipment provider’s stock valued at $4,556,000 after purchasing an additional 1,183 shares during the last quarter. Institutional investors own 69.30% of the company’s stock.

CSCO stock opened at $42.92 on Friday. Cisco Systems, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $49.47. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $208.74 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.54 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. Cisco Systems’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. Analysts predict that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 3.08%. Cisco Systems’s dividend payout ratio is presently 56.41%.

Several research firms have issued reports on CSCO. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Piper Jaffray Companies set a $53.00 price objective on shares of Cisco Systems and gave the stock an “overweight” rating in a research note on Monday, October 1st. Robert W. Baird reiterated an “outperform” rating and issued a $53.00 price objective on shares of Cisco Systems in a research note on Thursday, November 29th. KeyCorp increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, November 15th. Finally, Wolfe Research began coverage on shares of Cisco Systems in a research note on Tuesday, December 11th. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $51.05.

In other news, Director M Michele Burns sold 4,744 shares of Cisco Systems stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total transaction of $209,020.64. Following the completion of the sale, the director now directly owns 74,164 shares in the company, valued at $3,267,665.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Irving Tan sold 28,000 shares of Cisco Systems stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total value of $1,356,040.00. Following the sale, the senior vice president now owns 188,853 shares of the company’s stock, valued at $9,146,150.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,067 shares of company stock valued at $7,804,662. 0.03% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “First American Bank Purchases Shares of 211,471 Cisco Systems, Inc. (CSCO)” was first posted by Fairfield Current and is the property of of Fairfield Current. If you are reading this report on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright laws. The original version of this report can be read at https://www.fairfieldcurrent.com/news/2019/01/06/211471-shares-in-cisco-systems-inc-csco-acquired-by-first-american-bank.html.

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.

Featured Story: Consumer behavior in bull markets

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

Receive News & Ratings for Cisco Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cisco Systems and related companies with MarketBeat.com’s FREE daily email newsletter.

[ad_2]

Source link Google News

Share