Cascade Investment Advisors Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,219 shares of the network equipment provider’s stock after selling 360 shares during the quarter. Cisco Systems accounts for about 1.1% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 24th biggest holding. Cascade Investment Advisors Inc.’s holdings in Cisco Systems were worth $ 1,741,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. MFA Wealth Advisors LLC acquired a new stake in Cisco Systems during the 3rd quarter worth about $ 119,000. Voloridge Investment Management LLC acquired a new stake in Cisco Systems during the 3rd quarter worth about $ 1,290,000. Cetera Advisors LLC raised its holdings in Cisco Systems by 18.0% during the 3rd quarter. Cetera Advisors LLC now owns 124,128 shares of the network equipment provider’s stock worth $ 6,756,000 after buying an additional 18,901 shares during the period. Cetera Investment Advisers raised its holdings in Cisco Systems by 0.4% during the 3rd quarter. Cetera Investment Advisers now owns 250,402 shares of the network equipment provider’s stock worth $ 13,629,000 after buying an additional 990 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Cisco Systems by 4.3% during the 3rd quarter. Captrust Financial Advisors now owns 804,454 shares of the network equipment provider’s stock worth $ 43,786,000 after buying an additional 32,837 shares during the period. 73.18% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on CSCO. Bank of America dropped their target price on Cisco Systems from $ 62.00 to $ 52.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. JPMorgan Chase & Co. dropped their target price on Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft dropped their target price on Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Morgan Stanley dropped their target price on Cisco Systems from $ 59.00 to $ 46.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Finally, The Goldman Sachs Group dropped their target price on Cisco Systems from $ 64.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Friday, May 20th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $ 55.05.
In related news, CEO Charles Robbins sold 12,717 shares of the firm’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 transaction, the chief executive officer now owns 651,577 shares in the company, valued at $ 28,532,556.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Maria Martinez sold 4,674 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $ 43.33, for a total value of $ 202,524.42. Following the completion of the transaction, the chief operating officer now owns 286,033 shares in the company, valued at approximately $ 12,393,809.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,326 shares of company stock valued at $ 1,103,159. 0.02% of the stock is currently owned by corporate insiders.
Shares of NASDAQ CSCO opened at $ 44.14 on Wednesday. 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 business has a fifty day simple moving average of $ 47.41 and a 200 day simple moving average of $ 53.84. Cisco Systems, Inc. has a one year low of $ 41.02 and a one year high of $ 64.29. The firm has a market capitalization of $ 182.78 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 2.23 and a beta of 0.99.
Cisco Systems (NASDAQ: CSCO – Get Rating) last released 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 last year, the company earned $ 0.75 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be paid a $ 0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $ 1.52 dividend on an annualized basis and a dividend yield of 3.44%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.33%.
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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