Alta Advisers Ltd grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,459 shares of the network equipment provider's stock after acquiring an additional 6,400 shares during the period. Alta Advisers Ltd's holdings in Cisco Systems were worth $1,201,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CSCO. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Norges Bank acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp lifted its stake in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after buying an additional 681,555 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.
Insider Buying and Selling at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president directly owned 181,186 shares in the company, valued at $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.
Wall Street Analyst Weigh In
CSCO has been the topic of several recent analyst reports. KeyCorp assumed coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Evercore ISI increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $69.53.
View Our Latest Report on CSCO
Cisco Systems Stock Down 0.7%
Shares of NASDAQ CSCO traded down $0.51 on Wednesday, hitting $68.59. The company had a trading volume of 16,580,102 shares, compared to its average volume of 20,288,633. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The firm has a market capitalization of $271.62 billion, a P/E ratio of 28.00, a PEG ratio of 4.13 and a beta of 0.90. The business has a 50 day moving average of $63.15 and a two-hundred day moving average of $61.25.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Cisco Systems Profile
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Free Report)
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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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