Pinnacle Bancorp Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,717 shares of the network equipment provider’s stock after selling 495 shares during the period. Pinnacle Bancorp Inc.’s holdings in Cisco Systems were worth $ 1,044,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CSCO. Norges Bank purchased a new stake in Cisco Systems during the 4th quarter valued at $ 2,492,430,000. BlackRock Inc. boosted its stake 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 valued at $ 22,205,126,000 after purchasing an additional 11,804,677 shares during the last quarter. California Public Employees Retirement System boosted its stake 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 valued at $ 1,473,591,000 after purchasing an additional 6,349,689 shares during the last quarter. State Street Corp boosted its stake 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 valued at $ 11,794,751,000 after purchasing an additional 5,730,165 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake 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 valued at $ 532,693,000 after purchasing an additional 2,936,764 shares during the last quarter. Institutional investors and hedge funds own 73.18% of the company stock.
CSCO has been the topic of a number of research reports. Bank of America dropped their price target on Cisco Systems from $ 62.00 to $ 52.00 and set a “buy” rating on the stock in a research note on Thursday, May 19th. JPMorgan Chase & Co. dropped their price target on Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Citigroup dropped their price target on Cisco Systems from $ 45.00 to $ 40.00 and set a “sell” rating on the stock in a research note on Thursday, May 19th. Credit Suisse Group dropped their price target on Cisco Systems from $ 72.00 to $ 60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Finally, UBS Group dropped their price target on Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $ 55.05.
In related news, COO Maria Martinez sold 3,628 shares of Cisco Systems stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $ 43.34, for a total value of $ 157,237.52. Following the completion of the transaction, the chief operating officer now owns 295,305 shares in the company, valued at $ 12,798,518.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of Cisco Systems stock in a transaction dated 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. Insiders sold 25,326 shares of company stock worth $ 1,103,159 over the last ninety days. Insiders own 0.02% of the company stock.
NASDAQ: CSCO opened at $ 44.10 on Friday. 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 business’s 50-day simple moving average is $ 46.94 and its two-hundred day simple moving average is $ 53.55. The stock has a market cap of $ 182.62 billion, a PE ratio of 15.47, a P / E / G ratio of 2.27 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 issued its earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $ 0.75 EPS. Sell-side 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. Stockholders of record on Wednesday, July 6th will be issued a $ 0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $ 1.52 annualized dividend and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.
About Cisco Systems: (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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