Ellsworth Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,429 shares of the network equipment provider’s stock after purchasing an additional 8,388 shares during the period. Cisco Systems makes up approximately 1.9% of Ellsworth Advisors LLC’s holdings, making the stock its 6th largest position. Ellsworth Advisors LLC’s holdings in Cisco Systems were worth $5,431,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. grew its position 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 purchasing an additional 11,804,677 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cisco Systems by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock valued at $4,623,101,000 after acquiring an additional 1,380,066 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Cisco Systems by 0.3% in the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock valued at $3,496,355,000 after acquiring an additional 183,779 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cisco Systems by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock valued at $3,185,537,000 after acquiring an additional 2,336,314 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.
In other news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total transaction of $556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Maria Martinez sold 3,628 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 transaction of $157,237.52. Following the transaction, the chief operating officer now owns 295,305 shares in the company, valued at approximately $12,798,518.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is currently owned by company insiders.
Cisco Systems stock opened at $42.60 on Friday. The firm has a market cap of $176.40 billion, a PE ratio of 14.95, a P/E/G ratio of 2.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The firm’s 50 day moving average price is $46.03 and its two-hundred day moving average price is $53.00. 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 released its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 last year, the firm posted $0.75 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.57%. Cisco Systems’s dividend payout ratio is currently 53.33%.
Several research firms have recently issued reports on CSCO. Citigroup decreased their price objective on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, May 19th. KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Cisco Systems from $59.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Morgan Stanley cut their target price on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Finally, UBS Group cut their target price on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” 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 issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.05.
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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