Diversify Advisory Services LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,999 shares of the network equipment provider's stock after buying an additional 11,164 shares during the period. Diversify Advisory Services LLC's holdings in Cisco Systems were worth $4,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $3,297,905,000. FMR LLC increased its position in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. acquired a new position in Cisco Systems during the 4th quarter worth approximately $413,491,000. GAMMA Investing LLC increased its position in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Price Performance
NASDAQ CSCO traded down $0.25 on Friday, reaching $68.05. 16,138,141 shares of the stock traded hands, compared to its average volume of 20,295,616. The firm's fifty day simple moving average is $65.84 and its 200 day simple moving average is $62.09. 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 cap of $269.48 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 4.09 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 posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm 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%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Insider Activity at Cisco Systems
In other news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CSCO. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Morgan Stanley boosted their price target on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday. CICC Research assumed coverage on Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.
Check Out Our Latest Report on Cisco Systems
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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