Calton & Associates Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 6.9% in the first quarter, HoldingsChannel reports. The firm owned 8,916 shares of the network equipment provider’s stock after selling 665 shares during the period. Calton & Associates Inc.’s holdings in Cisco Systems were worth $ 497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at $ 2,492,430,000. BlackRock Inc. lifted its position in Cisco Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $ 22,205,126,000 after purchasing an additional 11,804,677 shares during the period. California Public Employees Retirement System raised its position in shares of 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 acquiring an additional 6,349,689 shares during the period. State Street Corp raised its position in shares of 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 acquiring an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of 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 acquiring an additional 2,936,764 shares during the period. Institutional investors own 73.18% of the company stock.
In other news, SVP Prat Bhatt sold 3,700 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total value of $ 160,358.00. Following the completion of the sale, the senior vice president now owns 80,784 shares of the company stock, valued at approximately $ 3,501,178.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Maria Martinez sold 3,628 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total transaction of $ 157,237.52. Following the completion of the sale, the chief operating officer now directly owns 295,305 shares of the company stock, valued at approximately $ 12,798,518.70. The disclosure for this sale can be found here. In the last three months, insiders sold 25,326 shares of company stock valued at $ 1,103,159. Corporate insiders own 0.02% of the company stock.
Shares of NASDAQ CSCO opened at $ 43.57 on Thursday. Cisco Systems, Inc. has a 12-month low of $ 41.02 and a 12-month high of $ 64.29. The stock has a market cap of $ 180.42 billion, a PE ratio of 15.29, a P / E / G 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 company has a 50-day moving average of $ 47.24 and a 200 day moving average of $ 53.77.
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, beating 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 quarter in the previous year, the firm posted $ 0.75 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Tuesday, July 5th. This represents a $ 1.52 annualized dividend and a yield of 3.49%. Cisco Systems’s dividend payout ratio is presently 53.33%.
A number of brokerages have weighed in on CSCO. 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 report on Thursday, May 19th. 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 report on Thursday, May 19th. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. decreased their price objective on shares of Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Finally, The Goldman Sachs Group lowered their target price on shares of Cisco Systems from $ 64.00 to $ 46.00 and set a “neutral” rating for the company in a research report on Friday, May 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $ 55.05.
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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