Capital Investment Advisors LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,360 shares of the network equipment provider’s stock after selling 16,231 shares during the period. Cisco Systems accounts for about 1.0% of Capital Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Capital Investment Advisors LLC’s holdings in Cisco Systems were worth $ 33,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. Executive Wealth Management LLC increased its position in Cisco Systems by 21.0% during the 1st quarter. Executive Wealth Management LLC now owns 107,334 shares of the network equipment provider’s stock worth $ 5,984,000 after purchasing an additional 18,607 shares in the last quarter. Abacus Planning Group Inc. increased its position in Cisco Systems by 1.9% during the 1st quarter. Abacus Planning Group Inc. now owns 16,465 shares of the network equipment provider’s stock worth $ 918,000 after purchasing an additional 311 shares in the last quarter. Cantor Fitzgerald Investment Advisor LP increased its position in Cisco Systems by 47.8% during the 1st quarter. Cantor Fitzgerald Investment Advisor LP now owns 454,280 shares of the network equipment provider’s stock worth $ 25,330,000 after purchasing an additional 146,925 shares in the last quarter. Griffin Asset Management Inc. increased its position in Cisco Systems by 8.2% during the 1st quarter. Griffin Asset Management Inc. now owns 6,841 shares of the network equipment provider’s stock worth $ 381,000 after purchasing an additional 520 shares in the last quarter. Finally, First Affirmative Financial Network increased its position in Cisco Systems by 15.0% during the 1st quarter. First Affirmative Financial Network now owns 9,084 shares of the network equipment provider’s stock worth $ 507,000 after purchasing an additional 1,188 shares in the last quarter. Institutional investors and hedge funds own 73.18% of the company stock.
CSCO has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Cowen dropped their target price on shares of Cisco Systems to $ 58.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Bank of America lowered their objective price on shares of Cisco Systems from $ 62.00 to $ 52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Wells Fargo & Company lowered their price objective on shares of Cisco Systems from $ 65.00 to $ 52.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating for the company in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $ 55.05.
Cisco Systems stock opened at $ 43.57 on Thursday. The stock has a market cap of $ 180.42 billion, a P / E ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $ 47.24 and a 200-day moving average of $ 53.77. Cisco Systems, Inc. has a 52 week low of $ 41.02 and a 52 week high of $ 64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $ 0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $ 0.75 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share 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 paid a dividend of $ 0.38 per share. This represents a $ 1.52 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems dividend payout ratio (DPR) is presently 53.33%.
In other Cisco Systems news, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $ 43.34, for a total value of $ 160,358.00. Following the sale, the senior vice president now directly owns 80,784 shares in the company, valued at $ 3,501,178.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following the completion of the sale, the chief executive officer now owns 651,577 shares in the company, valued at $ 28,532,556.83. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock worth $ 1,103,159 over the last 90 days. 0.02% of the stock is currently owned by company insiders.
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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