Edge Wealth Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 1.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,341 shares of the network equipment provider’s stock after selling 1,012 shares during the period. Edge Wealth Management LLC’s holdings in Cisco Systems were worth $ 3,197,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Norges Bank purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $ 2,492,430,000. BlackRock Inc. raised its holdings in Cisco Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $ 22,205,126,000 after acquiring an additional 11,804,677 shares during the last quarter. California Public Employees Retirement System grew its position in Cisco Systems by 37.6% in the 4th 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 grew its position in Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $ 11,794,751,000 after purchasing an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Cisco Systems by 53.7% during the 4th 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. Institutional investors and hedge funds own 73.18% of the company stock.
NASDAQ: CSCO opened at $ 44.10 on Friday. The company 50-day moving average price is $ 46.94 and its 200-day moving average price is $ 53.55. 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 market cap of $ 182.62 billion, a P / E ratio of 15.47, a P / E / G ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a twelve month low of $ 41.02 and a twelve month high of $ 64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last posted its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 earnings per share for the quarter, topping 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 period in the prior year, the company earned $ 0.75 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders 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 yield of 3.45%. The ex-dividend date is Tuesday, July 5th. Cisco Systems dividend payout ratio (DPR) is presently 53.33%.
Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. Barclays dropped their target price on shares of Cisco Systems from $ 68.00 to $ 55.00 and set an “overweight” rating on the stock in a research report on Thursday, May 19th. Wells Fargo & Company reduced their target price on shares of Cisco Systems from $ 65.00 to $ 52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Cowen cut their price target on shares of Cisco Systems to $ 58.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, Oppenheimer cut their price target on shares of Cisco Systems from $ 60.00 to $ 50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $ 55.05.
In other news, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following 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 is available through this hyperlink. Also, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $ 43.10, for a total transaction of $ 26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares of the company stock, valued at approximately $ 3,441,750.50. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock worth $ 1,103,159 over the last ninety days. 0.02% of the stock is owned by insiders.
Cisco Systems 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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