Choreo LLC Has $11.24 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Choreo LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 182,080 shares of the network equipment provider's stock after selling 11,633 shares during the period. Choreo LLC's holdings in Cisco Systems were worth $11,235,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CSCO. Norges Bank acquired a new stake in Cisco Systems during the 4th quarter worth $3,297,905,000. FMR LLC grew its holdings in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $413,491,000. GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after buying an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cisco Systems by 187.9% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after buying an additional 4,880,747 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president owned 181,186 shares in the company, valued at $11,505,311. This represents a 5.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the 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 owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. Corporate insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. CICC Research began coverage on shares of Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target for the company. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Morgan Stanley boosted their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.10 on Tuesday, reaching $68.44. The stock had a trading volume of 2,298,200 shares, compared to its average volume of 20,211,829. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $65.84 and its two-hundred day moving average is $62.13. The firm has a market capitalization of $271.02 billion, a price-to-earnings ratio of 27.93, a P/E/G ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 yield of 2.40%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Cisco Systems Company Profile

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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