Griffin Asset Management Inc. Acquires 520 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Griffin Asset Management Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,841 shares of the network equipment provider’s stock after buying an additional 520 shares during the quarter. Griffin Asset Management Inc.’s holdings in Cisco Systems were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Cisco Systems by 3.5% during 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 during the period. State Street Corp grew its position in 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 valued at $11,794,751,000 after buying an additional 5,730,165 shares during the period. Geode Capital Management LLC grew its position in Cisco Systems by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock valued at $4,623,101,000 after buying an additional 1,380,066 shares during the period. Northern Trust Corp grew its position in Cisco Systems by 0.3% during the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock valued at $3,496,355,000 after buying an additional 183,779 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Cisco Systems by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock valued at $3,185,537,000 after buying an additional 2,336,314 shares during the period. Institutional investors own 73.18% of the company’s stock.

CSCO stock opened at $43.57 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a twelve month low of $41.02 and a twelve month high of $64.29. The stock has a market capitalization of $180.42 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. The firm’s fifty day simple moving average is $47.24 and its two-hundred day simple moving average is $53.77.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share 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 quarter in the previous year, the business earned $0.75 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s payout ratio is presently 53.33%.

In other news, COO Maria Martinez sold 4,674 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.33, for a total value of $202,524.42. Following the transaction, the chief operating officer now directly owns 286,033 shares in the company, valued at $12,393,809.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,326 shares of company stock worth $1,103,159. Company insiders own 0.02% of the company’s stock.

Several brokerages have weighed in on CSCO. Oppenheimer lowered their price target on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Credit Suisse Group lowered their price target on shares of Cisco Systems from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Evercore ISI lowered their price target on shares of Cisco Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. StockNews.com began coverage on shares of Cisco Systems in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Morgan Stanley lowered their target price 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.05.

Cisco Systems Company 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.

Further Reading

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOGet Rating).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.