TRUE Private Wealth Advisors lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 36.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,788 shares of the network equipment provider’s stock after purchasing an additional 10,582 shares during the period. TRUE Private Wealth Advisors’ holdings in Cisco Systems were worth $1,965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in shares of Cisco Systems by 1,546.1% during the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after buying an additional 45,351,980 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Cisco Systems by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock worth $1,624,264,000 after acquiring an additional 1,253,256 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Cisco Systems by 2.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock worth $1,036,035,000 after acquiring an additional 478,368 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Cisco Systems by 10.5% during the 2nd quarter. AQR Capital Management LLC now owns 16,527,442 shares of the network equipment provider’s stock worth $904,547,000 after acquiring an additional 1,573,540 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Cisco Systems by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 13,909,185 shares of the network equipment provider’s stock worth $761,250,000 after acquiring an additional 44,733 shares in the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
In other news, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 18,955 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock valued at $9,359,179 over the last quarter. 0.03% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on CSCO shares. Barclays started coverage on Cisco Systems in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target on the stock. Bank of America reissued a “buy” rating and set a $62.00 price target on shares of Cisco Systems in a research note on Wednesday, July 10th. Tigress Financial reissued a “buy” rating on shares of Cisco Systems in a research note on Thursday, June 27th. MKM Partners decreased their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Royal Bank of Canada decreased their price target on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.60.
Shares of Cisco Systems stock traded up $0.58 during trading on Wednesday, hitting $46.97. 2,677,551 shares of the company were exchanged, compared to its average volume of 20,847,318. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The stock has a market capitalization of $201.74 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 2.29 and a beta of 1.28. The firm has a 50 day moving average price of $48.23 and a 200 day moving average price of $53.29.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the previous year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 annualized dividend and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
Further Reading: What does an outperform rating mean?
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