Spectrum Asset Management Inc. NB CA Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Spectrum Asset Management Inc. NB CA reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,744 shares of the network equipment provider’s stock after selling 230 shares during the period. Cisco Systems accounts for about 1.7% of Spectrum Asset Management Inc. NB CA’s portfolio, making the stock its 15th largest holding. Spectrum Asset Management Inc. NB CA’s holdings in Cisco Systems were worth $2,722,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. City Holding Co. boosted its holdings in shares of Cisco Systems by 1.0% during the 2nd quarter. City Holding Co. now owns 92,484 shares of the network equipment provider’s stock worth $5,061,000 after purchasing an additional 879 shares during the last quarter. Central Bank & Trust Co. boosted its holdings in shares of Cisco Systems by 3.3% during the 2nd quarter. Central Bank & Trust Co. now owns 14,661 shares of the network equipment provider’s stock worth $802,000 after purchasing an additional 466 shares during the last quarter. Factory Mutual Insurance Co. boosted its holdings in shares of Cisco Systems by 0.6% during the 2nd quarter. Factory Mutual Insurance Co. now owns 1,299,200 shares of the network equipment provider’s stock worth $71,105,000 after purchasing an additional 7,500 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of Cisco Systems by 286.4% during the 2nd quarter. Gradient Investments LLC now owns 35,260 shares of the network equipment provider’s stock worth $1,930,000 after purchasing an additional 26,134 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $10,371,000. Institutional investors own 74.37% of the company’s stock.

CSCO traded up $0.70 during trading hours on Tuesday, reaching $52.07. The company’s stock had a trading volume of 502,105 shares, compared to its average volume of 14,852,680. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The stock has a market cap of $219.90 billion, a PE ratio of 22.35, a PEG ratio of 2.43 and a beta of 1.18. The business has a 50-day moving average of $56.35. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 59.83%.

In other Cisco Systems news, Director Steven M. West sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the transaction, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last 90 days. 0.03% of the stock is owned by insiders.

Several research analysts have recently weighed in on CSCO shares. Bank of America restated a “buy” rating and set a $62.00 target price on shares of Cisco Systems in a report on Wednesday, July 10th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Nomura boosted their target price on Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. William Blair cut Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 target price on the stock. in a report on Wednesday, June 12th. Finally, Piper Jaffray Companies boosted their target price on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $56.42.

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

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