Masso Torrence Wealth Management Inc. lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 46.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,182 shares of the network equipment provider's stock after purchasing an additional 3,869 shares during the period. Masso Torrence Wealth Management Inc.'s holdings in Cisco Systems were worth $752,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings 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 buying an additional 13,285,052 shares during the period. Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth approximately $3,297,905,000. Northern Trust Corp grew its position in 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 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 lifted 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 acquiring an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $1,741,597,000 after acquiring an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
CSCO stock traded up $1.06 during trading on Monday, reaching $67.38. 33,917,945 shares of the company's stock were exchanged, compared to its average volume of 20,152,340. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $67.74. The company's fifty day moving average price is $61.38 and its 200-day moving average price is $60.80. The firm has a market cap of $266.82 billion, a PE ratio of 27.50, a P/E/G ratio of 3.97 and a beta of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.43%. Cisco Systems's payout ratio is presently 66.94%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on CSCO shares. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Evercore ISI boosted 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. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Seven investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.11.
Get Our Latest Stock Report on Cisco Systems
Insider Buying and Selling
In related news, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on 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 now owns 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last three months. Insiders own 0.01% of the company's stock.
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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