Tobam reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 86.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 817 shares of the network equipment provider's stock after selling 5,274 shares during the quarter. Tobam's holdings in Cisco Systems were worth $50,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $26,000. Navigoe LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $26,000. JDM Financial Group LLC raised its holdings in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $68.00.
Read Our Latest Analysis on Cisco Systems
Insider Activity
In other news, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider now owns 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president now owns 36,937 shares in the company, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 over the last 90 days. 0.01% of the stock is currently owned by company insiders.
Cisco Systems Stock Performance
CSCO traded down $1.01 during trading hours on Friday, hitting $64.09. The company's stock had a trading volume of 14,630,776 shares, compared to its average volume of 20,142,259. The company has a 50-day simple moving average of $60.47 and a 200 day simple moving average of $60.56. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $253.80 billion, a PE ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 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 analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The company also recently disclosed 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.
About Cisco Systems
(
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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