Gill Capital Partners LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,350 shares of the network equipment provider’s stock, valued at approximately $ 212,000.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Cisco Systems by 3.5% during 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 period. State Street Corp boosted its position in Cisco Systems by 3.2% during 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. Geode Capital Management LLC boosted its position in Cisco Systems by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $ 4,623,101,000 after purchasing an additional 1,380,066 shares during the period. Northern Trust Corp boosted its position in Cisco Systems by 0.3% during the 4th quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $ 3,496,355,000 after purchasing an additional 183,779 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Cisco Systems by 4.9% in the 4th 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 last quarter. Institutional investors and hedge funds own 73.18% of the company stock.
In related news, CEO Charles Robbins sold 12,717 shares of the firm’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 transaction of $ 556,877.43. Following the completion of the sale, the chief executive officer now directly owns 651,577 shares in the company, valued at $ 28,532,556.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 3,700 shares of the firm’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 transaction of $ 160,358.00. Following the sale, the senior vice president now owns 80,784 shares of the company stock, valued at $ 3,501,178.56. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock valued at $ 1,103,159 over the last 90 days. 0.02% of the stock is currently owned by insiders.
Cisco Systems stock opened at $ 43.39 on Friday. The firm has a 50 day simple moving average of $ 47.76 and a 200-day simple moving average of $ 54.02. 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 stock has a market capitalization of $ 179.68 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. Cisco Systems, Inc. has a 12-month low of $ 41.02 and a 12-month high of $ 64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last posted its quarterly earnings data 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 net margin of 23.28% and a return on equity of 31.22%. During the same period in the previous year, the firm earned $ 0.75 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 2.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a dividend of $ 0.38 per share. This represents a $ 1.52 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s payout ratio is 53.33%.
A number of equities analysts have weighed in on CSCO shares. 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 research report on Thursday, May 19th. Morgan Stanley decreased their price objective on shares of Cisco Systems from $ 59.00 to $ 46.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. StockNews.com started coverage on shares of Cisco Systems in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Barclays decreased their price objective on shares of 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, Jefferies Financial Group reduced their price target on shares of Cisco Systems from $ 65.00 to $ 52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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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