New Century Financial Group LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,447 shares of the network equipment provider's stock after selling 6,379 shares during the quarter. New Century Financial Group LLC's holdings in Cisco Systems were worth $398,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in shares of Cisco Systems during the fourth quarter valued at approximately $603,000. Brighton Jones LLC increased its position in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Cisco Systems by 37.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock valued at $542,000 after purchasing an additional 2,474 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Cisco Systems by 17.8% in the fourth quarter. Stanley Laman Group Ltd. now owns 11,417 shares of the network equipment provider's stock worth $676,000 after buying an additional 1,722 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Cisco Systems by 0.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,872,504 shares of the network equipment provider's stock worth $111,610,000 after purchasing an additional 14,057 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
CSCO traded down $1.01 during trading on Friday, reaching $64.09. The company's stock had a trading volume of 14,630,776 shares, compared to its average volume of 20,142,259. The company's fifty day moving average price is $60.47 and its 200-day moving average price is $60.56. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a market capitalization of $253.80 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results 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 company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently declared 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 is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.
Insider Activity at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now directly owns 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on 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 now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on CSCO shares. 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. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.
View Our Latest Stock Report on Cisco Systems
Cisco Systems Company Profile
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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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