McLean Asset Management Corp. increased its holdings in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,605 shares of the network equipment provider’s stock after acquiring an additional 343 shares during the period. McLean Asset Management Corp.’s holdings in Cisco Systems were worth $ 313,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in CSCO. MFA Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 3rd quarter worth about $ 119,000. Voloridge Investment Management LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at about $ 1,290,000. Cable Hill Partners LLC increased its holdings in shares of Cisco Systems by 4.6% during the 3rd quarter. Cable Hill Partners LLC now owns 17,084 shares of the network equipment provider’s stock valued at $ 930,000 after acquiring an additional 757 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of Cisco Systems by 3.7% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 71,306 shares of the network equipment provider’s stock valued at $ 3,881,000 after acquiring an additional 2,538 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Cisco Systems by 2.3% during the 3rd quarter. Chartwell Investment Partners LLC now owns 320,027 shares of the network equipment provider’s stock valued at $ 17,419,000 after acquiring an additional 7,094 shares during the last quarter. 73.18% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on CSCO shares. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. Citigroup lowered their target price on Cisco Systems from $ 45.00 to $ 40.00 and set a “sell” rating on the stock in a report on Thursday, May 19th. UBS Group lowered their target price on Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. JPMorgan Chase & Co. lowered 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. Finally, The Goldman Sachs Group lowered 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 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $ 55.05.
In other news, CEO Charles Robbins sold 12,717 shares of Cisco Systems stock in a transaction on Wednesday, May 25th. The stock was 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 directly owns 651,577 shares of the company stock, valued at approximately $ 28,532,556.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prat Bhatt sold 3,700 shares of Cisco Systems stock in a transaction 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 directly owns 80,784 shares of the company stock, valued at $ 3,501,178.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,326 shares of company stock valued at $ 1,103,159. Corporate insiders own 0.02% of the company stock.
Shares of CSCO opened at $ 43.39 on Monday. The stock has a fifty day moving average price of $ 47.76 and a two-hundred day moving average price of $ 54.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. Cisco Systems, Inc. has a 52-week low of $ 41.02 and a 52-week high of $ 64.29. The company 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.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued 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 return on equity of 31.22% and a net margin of 23.28%. During the same period in the prior year, the business posted $ 0.75 earnings per share. As a group, research analysts predict 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. Shareholders of record on Wednesday, July 6th will be given a $ 0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $ 1.52 annualized dividend and a yield of 3.50%. Cisco Systems’s payout ratio is 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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