Shilanski & Associates Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,652 shares of the network equipment provider’s stock after selling 7,902 shares during the quarter. Cisco Systems accounts for approximately 1.7% of Shilanski & Associates Inc.’s investment portfolio, making the stock its 19th largest holding. Shilanski & Associates Inc.’s holdings in Cisco Systems were worth $4,107,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CSCO. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $2,492,430,000. BlackRock Inc. lifted its holdings in shares of Cisco Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after purchasing an additional 11,804,677 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Cisco Systems by 37.6% during 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 purchasing an additional 6,349,689 shares during the period. State Street Corp lifted its holdings in 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 valued at $11,794,751,000 after acquiring an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in 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 valued at $532,693,000 after acquiring an additional 2,936,764 shares during the period. 73.18% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. Morgan Stanley decreased their price target on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. Cowen decreased their price target on Cisco Systems to $58.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. JPMorgan Chase & Co. reduced their target price on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 19th. Finally, Citigroup reduced their target price on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, May 19th. One equity research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.05.
Shares of NASDAQ:CSCO opened at $42.60 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $46.03 and a two hundred day moving average of $53.05. The stock has a market cap of $176.41 billion, a P/E ratio of 14.95, a PEG ratio of 2.27 and a beta of 0.99. 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 issued its earnings results 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 previous year, the company posted $0.75 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The business 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 3.57%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s payout ratio is currently 53.33%.
In other news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total transaction of $556,877.43. Following the completion of the transaction, the chief executive officer now directly owns 651,577 shares in the company, valued at approximately $28,532,556.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of the 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 transaction, the senior vice president now owns 80,784 shares of the company’s stock, valued at $3,501,178.56. 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 owned by company insiders.
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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