Palisade Asset Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 358,243 shares of the network equipment provider’s stock after buying an additional 3,937 shares during the quarter. Cisco Systems makes up 2.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $19,976,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Legacy Private Trust Co. raised its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $7,596,000 after buying an additional 349 shares during the period. Tobias Financial Advisors Inc. acquired a new position in Cisco Systems during the 4th quarter worth $1,062,000. Pure Financial Advisors LLC boosted its position in shares of Cisco Systems by 4.9% during the 1st quarter. Pure Financial Advisors LLC now owns 6,195 shares of the network equipment provider’s stock worth $345,000 after acquiring an additional 287 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in shares of Cisco Systems by 1.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 27,554 shares of the network equipment provider’s stock worth $1,536,000 after acquiring an additional 338 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of Cisco Systems by 8.6% during the 4th quarter. Spire Wealth Management now owns 86,355 shares of the network equipment provider’s stock worth $5,468,000 after acquiring an additional 6,867 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.
Several research analysts have recently issued reports on the company. Evercore ISI lowered their price objective on Cisco Systems from $62.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Citigroup lowered their price objective on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, May 19th. Cowen lowered their price objective on Cisco Systems to $58.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Barclays decreased their target price on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Finally, KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a research report 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.
CSCO opened at $42.60 on Friday. The company has a market cap of $176.41 billion, a PE ratio of 14.95, a P/E/G ratio of 2.27 and a beta of 0.99. The business has a 50 day moving average price of $46.03 and a two-hundred day moving average price of $53.05. Cisco Systems, Inc. has a 52 week low of $41.02 and a 52 week high of $64.29. 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 (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, topping analysts’ consensus estimates 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 in the previous year, the business posted $0.75 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.99 EPS 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 dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.
In related news, COO Maria Martinez sold 3,628 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $157,237.52. Following the sale, the chief operating officer now owns 295,305 shares in the company, valued at approximately $12,798,518.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the sale, the senior vice president now owns 79,855 shares in the company, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock valued at $1,103,159. Company insiders own 0.02% of the company’s 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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