IFP Advisors Inc trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,953 shares of the network equipment provider’s stock after selling 2,643 shares during the period. IFP Advisors Inc’s holdings in Cisco Systems were worth $8,070,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Vanguard Group Inc. increased its position in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the period. Nordea Investment Management AB increased its position in shares of Cisco Systems by 12.1% in the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after acquiring an additional 3,384,768 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Cisco Systems by 11.6% in the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock valued at $862,949,000 after acquiring an additional 2,863,474 shares during the period. LSV Asset Management increased its position in shares of Cisco Systems by 0.5% in the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after acquiring an additional 134,162 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Cisco Systems by 2.4% in the second quarter. Legal & General Group Plc now owns 26,334,633 shares of the network equipment provider’s stock valued at $824,310,000 after acquiring an additional 618,346 shares during the period. 75.69% of the stock is owned by institutional investors.
CSCO has been the topic of several research analyst reports. Oppenheimer reiterated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Friday, October 20th. Wells Fargo & Co reiterated an “outperform” rating and set a $42.00 price target on shares of Cisco Systems in a research report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, January 17th. Vetr raised shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research note on Wednesday, December 27th. Finally, Jefferies Group reissued a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a research note on Friday, October 6th. Twelve investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $39.26.
In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the transaction, the senior vice president now directly owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 in the last 90 days. Company insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) traded down $0.71 during trading on Wednesday, hitting $41.54. 36,512,097 shares of the stock traded hands, compared to its average volume of 21,450,000. The company has a market cap of $205,360.00, a price-to-earnings ratio of 21.52, a PEG ratio of 3.87 and a beta of 1.19. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $42.98.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. equities analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were issued a $0.29 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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