Nordea Investment Management AB decreased its position in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,028,451 shares of the network equipment provider’s stock after selling 4,248,924 shares during the quarter. Cisco Systems comprises 1.1% of Nordea Investment Management AB’s investment portfolio, making its stock its 16th largest holding. Nordea Investment Management AB owned 0.39% of Cisco Systems worth $ 903,203,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. MFA Wealth Advisors LLC acquired a new position in shares of Cisco Systems in the third quarter valued at $ 119,000. Voloridge Investment Management LLC bought a new position in Cisco Systems in the third quarter valued at about $ 1,290,000. FinTrust Capital Advisors LLC lifted its stake in Cisco Systems by 3.7% in the third quarter. FinTrust Capital Advisors LLC now owns 71,306 shares of the network equipment provider’s stock valued at $ 3,881,000 after buying an additional 2,538 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Cisco Systems by 2.3% during the third quarter. Chartwell Investment Partners LLC now owns 320,027 shares of the network equipment provider’s stock worth $ 17,419,000 after purchasing an additional 7,094 shares during the period. Finally, Kozak & Associates Inc. bought a new position in shares of Cisco Systems during the third quarter worth about $ 645,000. 73.18% of the stock is owned by institutional investors and hedge funds.
In other Cisco Systems news, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $ 43.33, for a total transaction of $ 202,524.42. Following the transaction, the chief operating officer now directly owns 286,033 shares of the company stock, valued at $ 12,393,809.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of the business’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 $ 160,358.00. Following the completion of the sale, the senior vice president now directly owns 80,784 shares in the company, valued at $ 3,501,178.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,326 shares of company stock worth $ 1,103,159. 0.02% of the stock is owned by company insiders.
Shares of CSCO stock opened at $ 43.39 on Tuesday. The company fifty day simple moving average is $ 47.57 and its two-hundred day simple moving average is $ 53.91. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The stock has a market cap of $ 179.68 billion, a P / E ratio of 15.22, a PEG ratio of 2.23 and a beta of 0.99. Cisco Systems, Inc. has a 52 week low of $ 41.02 and a 52 week 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 for the quarter, topping 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 company posted $ 0.75 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS 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. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $ 1.52 annualized dividend and a dividend yield of 3.50%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.33%.
Several research analysts have recently commented on CSCO shares. Cowen reduced their target price on Cisco Systems to $ 58.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Evercore ISI dropped their price objective on Cisco Systems from $ 62.00 to $ 50.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. TheStreet cut Cisco Systems from a “b” rating to a “c +” rating in a report on Wednesday, June 15th. The Goldman Sachs Group lowered their price target on Cisco Systems from $ 64.00 to $ 46.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Finally, Oppenheimer lowered their price target on Cisco Systems from $ 60.00 to $ 50.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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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