Court Place Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,985 shares of the network equipment provider's stock after selling 4,741 shares during the period. Cisco Systems comprises 2.1% of Court Place Advisors LLC's investment portfolio, making the stock its 11th biggest holding. Court Place Advisors LLC's holdings in Cisco Systems were worth $6,294,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. FMR LLC raised 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 during the last quarter. Norges Bank bought a new stake in Cisco Systems in the 4th quarter worth about $3,297,905,000. Northern Trust Corp grew its holdings in shares of Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cisco Systems by 7.8% in 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 during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 during the last quarter. Institutional investors own 73.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CSCO shares. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday. They issued a "peer perform" rating on the stock. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.
View Our Latest Report on CSCO
Cisco Systems Price Performance
Shares of CSCO stock traded down $0.81 on Friday, reaching $67.95. The company's stock had a trading volume of 14,698,247 shares, compared to its average volume of 20,360,774. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The stock's 50 day simple moving average is $64.84 and its 200-day simple moving average is $61.75. 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 company has a market capitalization of $269.08 billion, a P/E ratio of 27.73, a PEG ratio of 4.14 and a beta of 0.90.
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, 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 firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The business 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 is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's payout ratio is presently 66.94%.
Insiders Place Their Bets
In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, 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. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by corporate insiders.
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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