CORDA Investment Management LLC. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 45.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,184 shares of the network equipment provider's stock after purchasing an additional 17,573 shares during the period. CORDA Investment Management LLC.'s holdings in Cisco Systems were worth $3,467,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% during 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 purchasing an additional 13,285,052 shares in the last quarter. Norges Bank bought a new stake in shares of Cisco Systems during the 4th quarter valued at about $3,297,905,000. Northern Trust Corp boosted its stake in shares of Cisco Systems by 11.4% during 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 purchasing an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 purchasing an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the period. Institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Performance
NASDAQ CSCO traded down $0.81 during trading hours on Friday, hitting $67.95. 14,698,247 shares of the company's stock traded hands, compared to its average volume of 20,360,928. The business's fifty day moving average price is $65.02 and its two-hundred day moving average price is $61.82. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $269.08 billion, a P/E ratio of 27.73, a P/E/G ratio of 4.07 and a beta of 0.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems's payout ratio is currently 66.94%.
Insiders Place Their Bets
In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on CSCO. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. KeyCorp began coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Finally, Wolfe Research began coverage on shares of Cisco Systems in a research report on Tuesday. They set a "peer perform" rating for the company. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.
Read Our Latest Analysis on Cisco Systems
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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