Wade Financial Advisory Inc decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 34.6% in the 1st quarter, HoldingsChannel reports. The fund owned 11,017 shares of the network equipment provider’s stock after selling 5,841 shares during the quarter. Wade Financial Advisory Inc’s holdings in Cisco Systems were worth $614,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CSCO. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at $2,492,430,000. BlackRock Inc. boosted its stake 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 acquiring an additional 11,804,677 shares during the last quarter. California Public Employees Retirement System boosted its stake 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 acquiring an additional 6,349,689 shares during the last quarter. State Street Corp boosted its stake 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 acquiring an additional 5,730,165 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake 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 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.
A number of analysts recently commented on CSCO shares. TheStreet lowered Cisco Systems from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Morgan Stanley decreased their price objective on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 19th. Evercore ISI decreased their price target on Cisco Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. Barclays decreased their price target on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday, May 19th. One equity research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.05.
Shares of NASDAQ CSCO opened at $42.60 on Friday. Cisco Systems, Inc. has a fifty-two week low of $41.02 and a fifty-two week high of $64.29. The business has a 50 day moving average price of $46.03 and a two-hundred day moving average price of $53.05. 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 firm has a market cap of $176.41 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share 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 last year, the firm posted $0.75 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The firm 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 dividend of $0.38 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a yield of 3.57%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.33%.
In other news, COO Maria Martinez sold 3,628 shares of Cisco Systems stock in a transaction that occurred on 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 approximately $12,798,518.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,326 shares of company stock valued at $1,103,159. 0.02% of the stock is owned by insiders.
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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