Bernzott Capital Advisors decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,780 shares of the network equipment provider’s stock after selling 6,936 shares during the quarter. Bernzott Capital Advisors’ holdings in Cisco Systems were worth $13,872,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC acquired a new stake in shares of Cisco Systems in the third quarter worth $1,290,000. CHURCHILL MANAGEMENT Corp grew its stake in shares of Cisco Systems by 3.7% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 234,446 shares of the network equipment provider’s stock worth $14,857,000 after acquiring an additional 8,432 shares during the last quarter. Lynch & Associates IN grew its stake in shares of Cisco Systems by 3.6% in the fourth quarter. Lynch & Associates IN now owns 157,644 shares of the network equipment provider’s stock worth $9,990,000 after acquiring an additional 5,499 shares during the last quarter. Roberts Wealth Advisors LLC grew its stake in shares of Cisco Systems by 0.5% in the fourth quarter. Roberts Wealth Advisors LLC now owns 77,476 shares of the network equipment provider’s stock worth $4,893,000 after acquiring an additional 382 shares during the last quarter. Finally, Gradient Investments LLC grew its stake in shares of Cisco Systems by 36.3% in the fourth quarter. Gradient Investments LLC now owns 6,504 shares of the network equipment provider’s stock worth $412,000 after acquiring an additional 1,731 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Cisco Systems in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. TheStreet downgraded shares of Cisco Systems from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. JPMorgan Chase & Co. decreased their price target on shares of Cisco Systems from $67.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Citigroup decreased their price target on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a research note on Thursday, May 19th. Finally, Morgan Stanley decreased their price target on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $55.05.
In other Cisco Systems news, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the sale, the senior vice president now directly owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The disclosure for this sale can be found here. Insiders have sold a total of 25,326 shares of company stock valued at $1,103,159 over the last three months. Company insiders own 0.02% of the company’s stock.
Cisco Systems stock opened at $42.64 on Friday. The stock has a 50-day simple moving average of $46.21 and a 200-day simple moving average of $53.16. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29. The stock has a market capitalization of $176.57 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 2.27 and a beta of 0.99.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) 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 in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.56%. Cisco Systems’s dividend payout ratio is currently 53.33%.
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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