LVZ Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,388 shares of the network equipment provider’s stock after purchasing an additional 306 shares during the quarter. LVZ Inc.’s holdings in Cisco Systems were worth $356,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Cisco Systems during the 4th quarter worth approximately $2,492,430,000. BlackRock Inc. grew 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 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% during 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 acquiring an additional 6,349,689 shares during the last quarter. State Street Corp grew 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 acquiring an additional 5,730,165 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in 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 worth $532,693,000 after acquiring an additional 2,936,764 shares during 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 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of the 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 completion of the transaction, the senior vice president now owns 80,784 shares in the company, valued at approximately $3,501,178.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,326 shares of company stock valued at $1,103,159. 0.02% of the stock is owned by company insiders.
Several equities research analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, May 19th. Credit Suisse Group dropped their price objective on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on Cisco Systems from $59.00 to $51.00 and set a “hold” rating for the company in a report on Thursday, May 19th. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. Finally, KGI Securities upgraded Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Thursday, May 19th. One 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. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $55.05.
Cisco Systems stock opened at $42.88 on Thursday. The firm has a market cap of $177.56 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 2.27 and a beta of 0.99. The stock has a fifty day simple moving average of $46.41 and a two hundred day simple moving average of $53.27. Cisco Systems, Inc. has a 12 month low of $41.02 and a 12 month high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, topping 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 last year, the business posted $0.75 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s payout ratio is currently 53.33%.
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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