Community Financial Services Group LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,497 shares of the network equipment provider’s stock after purchasing an additional 2,765 shares during the period. Cisco Systems makes up approximately 3.8% of Community Financial Services Group LLC’s investment portfolio, making the stock its 6th biggest position. Community Financial Services Group LLC’s holdings in Cisco Systems were worth $ 15,050,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Cisco Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $ 22,205,126,000 after acquiring an additional 11,804,677 shares during the last quarter. State Street Corp lifted its holdings in shares of Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock valued at $ 11,794,751,000 after acquiring an additional 5,730,165 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cisco Systems by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock valued at $ 4,623,101,000 after acquiring an additional 1,380,066 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock valued at $ 3,496,355,000 after acquiring an additional 183,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock valued at $ 3,185,537,000 after acquiring an additional 2,336,314 shares during the last quarter. Hedge funds and other institutional investors own 73.18% of the company stock.
A number of brokerages recently commented on CSCO. TheStreet downgraded shares of Cisco Systems from a “b” rating to a “c +” rating in a report on Wednesday. Oppenheimer decreased their price objective on shares of Cisco Systems from $ 60.00 to $ 50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, May 19th. Morgan Stanley decreased their price objective on shares of Cisco Systems from $ 59.00 to $ 46.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Finally, Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $ 65.00 to $ 52.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Buy” and a consensus price target of $ 55.05.
Shares of CSCO stock opened at $ 43.39 on Friday. The firm has a market cap of $ 179.68 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.23 and a beta of 0.99. The company 50 day moving average is $ 47.76 and its 200 day moving average is $ 54.02. 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 52-week low of $ 41.02 and a 52-week high of $ 64.29.
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, topping the consensus estimate of $ 0.86 by $ 0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period last year, the company earned $ 0.75 EPS. Analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a $ 0.38 dividend. This represents a $ 1.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.33%.
In other news, SVP Prat Bhatt sold 3,700 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total transaction of $ 160,358.00. Following the sale, the senior vice president now directly owns 80,784 shares of the company stock, valued at $ 3,501,178.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Maria Martinez sold 4,674 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $ 43.33, for a total transaction of $ 202,524.42. Following the sale, the chief operating officer now directly owns 286,033 shares in the company, valued at $ 12,393,809.89. The disclosure for this sale can be found here. Insiders sold 25,326 shares of company stock worth $ 1,103,159 over the last ninety days. Corporate insiders own 0.02% of the company stock.
Cisco Systems Company Profile: (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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