Icon Wealth Partners LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,812 shares of the network equipment provider’s stock after purchasing an additional 5,139 shares during the quarter. Cisco Systems accounts for approximately 0.7% of Icon Wealth Partners LLC’s investment portfolio, making its stock its 28th biggest holding. Icon Wealth Partners LLC’s holdings in Cisco Systems were worth $ 6,960,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in CSCO. Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth $ 2,492,430,000. BlackRock Inc. raised its position in Cisco Systems by 3.5% during the fourth 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 in the last quarter. California Public Employees Retirement System raised its position in Cisco Systems by 37.6% during the fourth 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 acquiring an additional 6,349,689 shares in the last quarter. State Street Corp raised its position in Cisco Systems by 3.2% during the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $ 11,794,751,000 after acquiring an additional 5,730,165 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Cisco Systems by 53.7% during the fourth quarter. ProShare Advisors LLC now owns 8,406,104 shares of the network equipment provider’s stock worth $ 532,693,000 after acquiring an additional 2,936,764 shares in the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.
CSCO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Cisco Systems from $ 59.00 to $ 51.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. Barclays decreased their price objective on shares of Cisco Systems from $ 68.00 to $ 55.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. The Goldman Sachs Group decreased their price objective on shares of Cisco Systems from $ 64.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Friday, May 20th. Cowen decreased their price objective on shares of Cisco Systems to $ 58.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Finally, Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $ 65.00 to $ 52.00 and set a “buy” 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 assigned a buy rating to the company stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $ 55.05.
In other news, COO Maria Martinez sold 3,628 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total transaction of $ 157,237.52. Following the completion of the sale, the chief operating officer now owns 295,305 shares of the company stock, valued at approximately $ 12,798,518.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prat Bhatt sold 607 shares of the firm’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 transaction of $ 26,161.70. Following the sale, the senior vice president now directly 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 a total of 25,326 shares of company stock valued at $ 1,103,159 in the last three months. Insiders own 0.02% of the company stock.
Shares of NASDAQ CSCO opened at $ 42.88 on Thursday. The company has a 50 day simple moving average of $ 46.41 and a 200 day simple moving average of $ 53.27. The firm has a market cap of $ 177.56 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 1 year low of $ 41.02 and a 1 year high of $ 64.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued 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 net margin of 23.28% and a return on equity of 31.22%. During the same period last year, the firm posted $ 0.75 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current fiscal 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 given a dividend of $ 0.38 per share. This represents a $ 1.52 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.33%.
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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