Elevation Point Wealth Partners LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 92.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,867 shares of the network equipment provider's stock after purchasing an additional 12,925 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Cisco Systems were worth $1,658,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% during the fourth 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. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $3,297,905,000. Northern Trust Corp boosted its stake in shares of Cisco Systems by 11.4% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 2.4% in 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 buying an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 4,185 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total value of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company's stock, valued at $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock valued at $4,671,930 in the last ninety days. Corporate insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Evercore ISI lifted their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $73.00 in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.11.
Read Our Latest Report on CSCO
Cisco Systems Trading Up 1.0%
Shares of NASDAQ:CSCO traded up $0.65 on Wednesday, hitting $65.98. 11,695,244 shares of the company's stock were exchanged, compared to its average volume of 20,128,519. The business's 50 day simple moving average is $60.86 and its two-hundred day simple moving average is $60.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $261.29 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 3.95 and a beta of 0.88. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. Analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued 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 2.49%. Cisco Systems's payout ratio is currently 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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