Arizona State Retirement System Cuts Stake in Cisco Systems, Inc. (CSCO)

Cornelia Mascio
Novembre 14, 2017

Raymond James Financial Inc. increased their price objective on Cisco Systems from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, September 23rd. (NASDAQ:CSCO) has "Buy" rating given on Monday, August 7 by Robert W. Baird. BlackRock Institutional Trust Company N.A. now owns 137,302,042 shares of the network equipment provider's stock valued at $3,908,989,000 after buying an additional 1,525,298 shares during the period. Community Bank N.A.'s holdings in Cisco Systems were worth $5,103,000 at the end of the most recent reporting period.

Several firms have updated their holdings. Boston Partners increased its holdings in shares of Cisco Systems by 304.2% in the first quarter. Pioneer Investment Management Inc. now owns 9,068,611 shares of the network equipment provider's stock worth $283,847,000 after buying an additional 809,863 shares in the last quarter. Fil Ltd owns 1.3% invested in Cisco Systems, Inc. BlackRock Group LTD now owns 54,415,499 shares of the network equipment provider's stock valued at $1,549,209,000 after buying an additional 459,754 shares during the period.

American International Group Inc isn't the only one who has changed their investment in CSCO. OLD Dominion Capital Management Inc. now owns 28,276 shares of the network equipment provider's stock valued at $885,000 after purchasing an additional 348 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Cisco Systems by 5.9% in the second quarter. Also, SVP Karen Walker sold 23,110 shares of the firm's stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Van Strum And Towne invested in 7,026 shares or 0.14% of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Following the transaction, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The disclosure for this sale can be found here. The stock decreased 0.12% or $0.04 during the last trading session, reaching $33.95. Corporate insiders own 0.05% of the company's stock. (NASDAQ:CSCO). Redmond Asset Management Limited Co holds 0.65% or 44,119 shares. (NASDAQ:CSCO) news were published by: Seekingalpha.com which released: "Cisco Likely A Hold?" on October 31, 2017, also Fool.com with their article: "Why 2017 was a Year to Forget for Cisco Systems, Inc." published on November 09, 2017, Seekingalpha.com published: "Cisco: BroadSoft Is No Game Changer" on October 24, 2017. The stock of Enanta Pharmaceuticals Inc (NASDAQ:ENTA) earned "Buy" rating by RBC Capital Markets on Friday, October 20. Drexel Hamilton maintained the shares of CSCO in report on Tuesday, August 15 with "Buy" rating. Credit Suisse Group reissued a "buy" rating on shares of Cisco Systems in a research note on Thursday, August 10th. The stock now has an average rating of "Buy" and an average target price of $35.31.

Cisco Systems, Inc. has a 1 year low of $29.12 and a 1 year high of $34.75. (NASDAQ:CSCO) on Wednesday, May 24. Cisco Systems Inc's P/E ratio is 17.87 and the market value is 168.58B. Cisco Systems, Inc. (NASDAQ:CSCO) has risen 13.20% since November 14, 2016 and is uptrending. They expect $0.55 earnings per share, 0.00 % or $0.00 from last year's $0.55 per share. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems's quarterly revenue was down 1.6% on a year-over-year basis. OLD Dominion Capital Management Inc. raised its stake in Cisco Systems by 1.2% in the second quarter.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. Howard Weil downgraded PBF Energy Inc (NYSE:PBF) on Wednesday, October 19 to "Sector Outperform" rating. At present, the PEG is valued at 1.74 alongside the P/S ratio of 3.51 and P/B ratio of 2.56. Cisco Systems's dividend payout ratio (DPR) is presently 60.73%.

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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). (NASDAQ:CSCO) or 156,990 shares.

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