Robeco Institutional Asset Management B.V. lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 27.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,131,144 shares of the network equipment provider's stock after purchasing an additional 1,109,343 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.13% of Cisco Systems worth $316,643,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $132,000. Proficio Capital Partners LLC raised its stake in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after acquiring an additional 7,338 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario raised its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Finally, AlTi Global Inc. raised its stake in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after acquiring an additional 6,811 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently commented on CSCO. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. KeyCorp began coverage on Cisco Systems in a report on Thursday. They set an "overweight" rating and a $77.00 target price on the stock. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.53.
Check Out Our Latest Stock Analysis on Cisco Systems
Cisco Systems Trading Down 0.4%
NASDAQ:CSCO traded down $0.30 during mid-day trading on Friday, hitting $68.65. The company had a trading volume of 26,213,514 shares, compared to its average volume of 20,249,969. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.25. The business's fifty day moving average is $62.31 and its two-hundred day moving average is $61.02. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market cap of $271.85 billion, a P/E ratio of 28.02, a P/E/G ratio of 4.12 and a beta of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.
Insider Buying and Selling at Cisco Systems
In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares of the company's stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by company 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.
Featured Articles
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
