Sweet Financial Partners LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 240.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,450 shares of the network equipment provider’s stock after acquiring an additional 8,790 shares during the period. Sweet Financial Partners LLC’s holdings in Cisco Systems were worth $694,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Everett Harris & Co. CA raised its stake in Cisco Systems by 2.2% during the 1st quarter. Everett Harris & Co. CA now owns 28,270 shares of the network equipment provider’s stock valued at $1,576,000 after acquiring an additional 621 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Cisco Systems by 4.0% during the 1st quarter. 180 Wealth Advisors LLC now owns 44,053 shares of the network equipment provider’s stock valued at $2,283,000 after acquiring an additional 1,685 shares during the last quarter. New Century Advisors LLC raised its stake in Cisco Systems by 16.3% during the 1st quarter. New Century Advisors LLC now owns 9,270 shares of the network equipment provider’s stock valued at $517,000 after acquiring an additional 1,300 shares during the last quarter. Cullinan Associates Inc. raised its stake in Cisco Systems by 5.9% during the 1st quarter. Cullinan Associates Inc. now owns 377,720 shares of the network equipment provider’s stock valued at $21,062,000 after acquiring an additional 20,962 shares during the last quarter. Finally, Ballast Advisors LLC raised its stake in Cisco Systems by 4.0% during the 1st quarter. Ballast Advisors LLC now owns 8,632 shares of the network equipment provider’s stock valued at $481,000 after acquiring an additional 334 shares during the last quarter. 73.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CSCO opened at $42.60 on Monday. The business’s fifty day moving average price is $46.03 and its two hundred day moving average price is $52.95. The stock has a market cap of $176.41 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. Cisco Systems, Inc. has a one year low of $41.02 and a one year high of $64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating 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 quarter in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.33%.
Several equity analysts have issued reports on the company. 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. KGI Securities upgraded Cisco Systems from a “neutral” rating to an “outperform” rating in a research report on Thursday, May 19th. Bank of America dropped their target price on Cisco Systems from $62.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. 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. Finally, 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. One equity research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.05.
In other Cisco Systems news, COO Maria Martinez sold 3,628 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $157,237.52. Following the transaction, the chief operating officer now owns 295,305 shares of the company’s stock, valued at approximately $12,798,518.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 12,717 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 651,577 shares in the company, valued at approximately $28,532,556.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,326 shares of company stock worth $1,103,159. Corporate insiders own 0.02% of the company’s 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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