Asset Management One Co. Ltd. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,994,687 shares of the network equipment provider's stock after buying an additional 122,183 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of Cisco Systems worth $123,092,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Navigoe LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. purchased a new position in Cisco Systems in the 4th quarter worth $31,000. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Stock Performance
Shares of Cisco Systems stock traded up $0.30 on Wednesday, reaching $68.19. 19,309,570 shares of the stock were exchanged, compared to its average volume of 20,164,906. The firm has a market capitalization of $270.03 billion, a PE ratio of 27.83, a PEG ratio of 4.03 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $68.52. The business has a fifty day moving average price of $61.80 and a two-hundred day moving average price of $60.90. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period last year, the firm earned $0.88 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. Cisco Systems's payout ratio is 66.94%.
Insider Activity
In related news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, the executive vice president now directly owns 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.11.
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About Cisco Systems
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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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