Mitchell Sinkler & Starr PA grew its stake in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,600 shares of the network equipment provider’s stock after acquiring an additional 830 shares during the quarter. Cisco Systems comprises approximately 0.8% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 28th biggest position. Mitchell Sinkler & Starr PA’s holdings in Cisco Systems were worth $ 2,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in CSCO. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $ 2,492,430,000. BlackRock Inc. boosted its position in shares of Cisco Systems by 3.5% during 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 last quarter. California Public Employees Retirement System boosted its position in shares of 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 valued at $ 1,473,591,000 after buying an additional 6,349,689 shares during the last quarter. State Street Corp boosted its position in shares of 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 valued at $ 11,794,751,000 after buying an additional 5,730,165 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of 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 valued at $ 532,693,000 after buying an additional 2,936,764 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on CSCO shares. StockNews.com started coverage on Cisco Systems in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Evercore ISI dropped their target price on Cisco Systems from $ 62.00 to $ 50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. Citigroup dropped their target price on Cisco Systems from $ 45.00 to $ 40.00 and set a “sell” rating on the stock in a research report on Thursday, May 19th. The Goldman Sachs Group dropped their target price on Cisco Systems from $ 64.00 to $ 46.00 and set a “neutral” rating on the stock in a research report on Friday, May 20th. Finally, Wells Fargo & Company dropped their target price on Cisco Systems from $ 65.00 to $ 52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $ 55.05.
Shares of CSCO opened at $ 43.06 on Wednesday. The business’s 50 day moving average is $ 46.61 and its 200 day moving average is $ 53.34. The company has a market capitalization of $ 178.31 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 2.27 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. 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 issued its earnings results 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 return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the prior year, the firm posted $ 0.75 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The company 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. This represents a $ 1.52 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s payout ratio is 53.33%.
In other Cisco Systems 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 value of $ 202,524.42. Following the sale, the chief operating officer now owns 286,033 shares of the company stock, valued at approximately $ 12,393,809.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares of the company stock, valued at approximately $ 28,532,556.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,326 shares of company stock worth $ 1,103,159. Corporate insiders own 0.02% of the company stock.
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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