Mitsubishi UFJ Trust & Banking Corp Trims Position in Cisco Systems, Inc. (CSCO)
Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,757,298 shares of the network equipment provider’s stock after selling 26,398 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cisco Systems were worth $361,768,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in Cisco Systems during the second quarter worth approximately $231,000. Barnett & Company Inc. boosted its holdings in Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after purchasing an additional 878 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Cisco Systems in the 2nd quarter worth approximately $104,000. Finally, Manchester Capital Management LLC boosted its stake in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 75.42% of the company’s stock.
A number of equities analysts recently commented on CSCO shares. Oppenheimer reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Friday, October 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Monday, October 23rd. Berenberg Bank reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Finally, Cowen reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Friday, November 3rd. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $40.47.
Cisco Systems, Inc. (NASDAQ CSCO) opened at $42.09 on Thursday. The firm has a market cap of $208,080.00, a price-to-earnings ratio of 21.81, a PEG ratio of 3.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $42.98.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. During the same quarter in the prior year, the company posted $0.57 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.14%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
TRADEMARK VIOLATION NOTICE: This story was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://theolympiareport.com/2018/02/15/mitsubishi-ufj-trust-banking-corp-trims-position-in-cisco-systems-inc-csco.html.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (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.