Rehmann Capital Advisory Group lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,531 shares of the network equipment provider's stock after selling 4,451 shares during the quarter. Rehmann Capital Advisory Group's holdings in Cisco Systems were worth $3,365,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Norges Bank purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $3,297,905,000. Northern Trust Corp lifted its holdings 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 worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 681,555 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Down 1.2%
Shares of NASDAQ CSCO traded down $0.81 during midday trading on Friday, hitting $67.95. 14,698,247 shares of the company's stock were exchanged, compared to its average volume of 20,360,774. The firm's fifty day simple moving average is $64.84 and its 200-day simple moving average is $61.75. The company has a market cap of $269.08 billion, a PE ratio of 27.73, a P/E/G ratio of 4.14 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% on a year-over-year basis. Research analysts predict 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. This represents a $1.64 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.
Analyst Ratings Changes
Several research analysts have recently commented on CSCO shares. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Evercore ISI lifted 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. Finally, JPMorgan Chase & Co. increased their target price 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. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $69.53.
View Our Latest Research Report on CSCO
Insider Buying and Selling at Cisco Systems
In other news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.
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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