American Research & Management Co. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 7.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,075 shares of the network equipment provider’s stock after selling 325 shares during the quarter. American Research & Management Co.’s holdings in Cisco Systems were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $2,492,430,000. BlackRock Inc. lifted its position in Cisco Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after purchasing an additional 11,804,677 shares during the period. California Public Employees Retirement System lifted its position in Cisco Systems by 37.6% in the fourth quarter. California Public Employees Retirement System now owns 23,253,771 shares of the network equipment provider’s stock worth $1,473,591,000 after purchasing an additional 6,349,689 shares during the period. State Street Corp lifted its position in Cisco Systems by 3.2% in the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after purchasing an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC lifted its position in Cisco Systems by 53.7% in the fourth quarter. ProShare Advisors LLC now owns 8,406,104 shares of the network equipment provider’s stock worth $532,693,000 after purchasing an additional 2,936,764 shares during the period. 73.18% of the stock is owned by institutional investors.
In other news, CEO Charles Robbins sold 12,717 shares of Cisco Systems stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total transaction of $556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the transaction, the senior vice president now owns 79,855 shares in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,326 shares of company stock valued at $1,103,159. Corporate insiders own 0.02% of the company’s stock.
Shares of NASDAQ:CSCO opened at $42.60 on Friday. Cisco Systems, Inc. has a twelve month low of $41.02 and a twelve month high of $64.29. The firm has a market cap of $176.40 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The business has a fifty-day moving average of $46.03 and a 200-day moving average of $53.00.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period last year, the firm earned $0.75 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.57%. Cisco Systems’s payout ratio is 53.33%.
Several brokerages recently commented on CSCO. Jefferies Financial Group reduced their target price on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Credit Suisse Group reduced their target price on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Barclays reduced their target price on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Cowen cut their price objective on Cisco Systems to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Finally, KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.05.
About Cisco Systems: (Get Rating)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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