Autus Asset Management LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,595 shares of the network equipment provider’s stock after selling 303 shares during the quarter. Autus Asset Management LLC’s holdings in Cisco Systems were worth $367,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $2,492,430,000. BlackRock Inc. lifted its stake in Cisco Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $22,205,126,000 after buying an additional 11,804,677 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Cisco Systems by 37.6% in the fourth quarter. California Public Employees Retirement System now owns 23,253,771 shares of the network equipment provider’s stock valued at $1,473,591,000 after buying an additional 6,349,689 shares during the period. State Street Corp increased its position in shares of Cisco Systems by 3.2% during the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after acquiring an additional 5,730,165 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Cisco Systems by 53.7% during the fourth quarter. ProShare Advisors LLC now owns 8,406,104 shares of the network equipment provider’s stock worth $532,693,000 after acquiring an additional 2,936,764 shares during the period. 73.18% of the stock is currently owned by institutional investors.
In related news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $160,358.00. Following the sale, the senior vice president now directly owns 80,784 shares of the company’s stock, valued at approximately $3,501,178.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock valued at $1,103,159. 0.02% of the stock is currently owned by insiders.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same period last year, the company posted $0.75 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be paid a dividend of $0.38 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.33%.
CSCO has been the subject of a number of research reports. Barclays lowered their target price on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a research report on Thursday, May 19th. JPMorgan Chase & Co. reduced their price target on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Morgan Stanley lowered their price objective on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Finally, Wells Fargo & Company reduced their target price on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $55.05.
Cisco Systems Profile (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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