Gateway Advisory LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,617 shares of the network equipment provider’s stock, valued at approximately $257,000.
A number of other hedge funds also recently made changes to their positions in CSCO. BlackRock Inc. raised its stake in Cisco Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $22,205,126,000 after buying an additional 11,804,677 shares during the period. State Street Corp raised its stake 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 buying an additional 5,730,165 shares during the period. Geode Capital Management LLC raised its stake in 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 buying an additional 1,380,066 shares during the period. Northern Trust Corp raised its stake in 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 buying an additional 183,779 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 2,336,314 shares during the period. Institutional investors and hedge funds own 73.18% of the company’s stock.
Shares of NASDAQ:CSCO opened at $42.60 on Monday. The company has a market capitalization of $176.41 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. The business has a fifty day moving average price of $46.03 and a two hundred day moving average price of $52.95. Cisco Systems, Inc. has a 1 year low of $41.02 and a 1 year high of $64.29.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $0.75 earnings per share. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a dividend yield of 3.57%. Cisco Systems’s payout ratio is 53.33%.
In related news, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.33, for a total transaction of $202,524.42. Following the sale, the chief operating officer now directly owns 286,033 shares in the company, valued at $12,393,809.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $26,161.70. Following the sale, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,326 shares of company stock worth $1,103,159 in the last three months. 0.02% of the stock is currently owned by insiders.
CSCO has been the topic of a number of research reports. TheStreet lowered Cisco Systems from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a research 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 research report on Thursday, May 19th. Wells Fargo & Company decreased their price target on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. Finally, UBS Group decreased their price target on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a report 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.05.
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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