Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $25.64 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,462 shares of the network equipment provider's stock after buying an additional 43,356 shares during the period. Cisco Systems comprises 0.7% of Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings, making the stock its 24th largest position. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Cisco Systems were worth $25,638,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CSCO. FMR LLC raised its position in Cisco Systems by 20.8% during 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 in the last quarter. Northern Trust Corp grew its stake 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 worth $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 grew its stake in shares of Cisco Systems by 7.8% in the fourth 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 purchasing an additional 2,637,006 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 2.4% in 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 purchasing an additional 681,555 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cisco Systems by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider's stock worth $1,015,948,000 after purchasing an additional 1,943,563 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling

In other news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $612,330.50. Following the completion of the sale, the executive vice president owned 181,186 shares of the company's stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.97 during mid-day trading on Friday, reaching $67.11. The stock had a trading volume of 21,648,306 shares, compared to its average volume of 15,898,578. The company has a market cap of $265.76 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The business has a 50-day simple moving average of $66.87 and a 200 day simple moving average of $62.72. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 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 analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Wolfe Research assumed coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating 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 note on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, KeyCorp initiated coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

About Cisco Systems

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.