US Bancorp DE Sells 146,290 Shares of Cisco Systems, Inc. (CSCO)

US Bancorp DE lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,204,430 shares of the network equipment provider’s stock after selling 146,290 shares during the period. US Bancorp DE owned approximately 0.08% of Cisco Systems worth $131,598,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares in the last quarter. Watermark Asset Management Inc. purchased a new stake in shares of Cisco Systems during the first quarter worth approximately $122,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $128,000. Jackson Grant Investment Advisers Inc. boosted its stake in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock worth $128,000 after buying an additional 4,150 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares in the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.

Shares of Cisco Systems, Inc. (CSCO) traded down 2.16% on Friday, hitting $30.37. 34,802,193 shares of the stock were exchanged. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60. The company has a 50 day moving average of $31.48 and a 200 day moving average of $32.55. The company has a market cap of $151.64 billion, a price-to-earnings ratio of 15.98 and a beta of 1.24.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s payout ratio is 60.73%.

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CSCO has been the subject of a number of recent analyst reports. Instinet reiterated a “neutral” rating and issued a $29.00 price target on shares of Cisco Systems in a research note on Monday, July 3rd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target for the company. in a research note on Wednesday, April 26th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. Fourteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $35.46.

In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the transaction, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by corporate insiders.

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).

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