Strategic Wealth Management Group LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,978 shares of the network equipment provider’s stock after selling 195 shares during the quarter. Strategic Wealth Management Group LLC’s holdings in Cisco Systems were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC grew its stake in Cisco Systems by 36.0% in the fourth quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock valued at $1,184,580,000 after acquiring an additional 7,238,755 shares during the period. PNC Financial Services Group Inc. grew its stake in Cisco Systems by 4.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,269,461 shares of the network equipment provider’s stock valued at $618,297,000 after acquiring an additional 616,591 shares during the period. California Public Employees Retirement System grew its stake in Cisco Systems by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 13,051,256 shares of the network equipment provider’s stock valued at $565,511,000 after acquiring an additional 173,161 shares during the period. APG Asset Management N.V. grew its stake in Cisco Systems by 28.5% in the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock valued at $422,131,000 after acquiring an additional 2,472,300 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in Cisco Systems by 0.8% in the fourth quarter. Lord Abbett & CO. LLC now owns 6,155,166 shares of the network equipment provider’s stock valued at $266,703,000 after acquiring an additional 46,385 shares during the period. Institutional investors own 74.41% of the company’s stock.
A number of brokerages have commented on CSCO. BidaskClub cut Zai Lab from a “strong-buy” rating to a “buy” rating in a research note on Friday. Bank of America set a $25.00 price objective on Levi Strauss & Co. and gave the company a “hold” rating in a research note on Wednesday, July 10th. UBS Group set a $13.00 price objective on Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, June 26th. William Blair cut Medidata Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 12th. Finally, Tigress Financial reissued a “buy” rating on shares of Cisco Systems in a research note on Thursday, June 27th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $56.30.
In related news, Director Steven M. West sold 20,000 shares of Cisco Systems stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the sale, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CSCO traded up $0.55 during mid-day trading on Monday, hitting $57.08. 613,308 shares of the company traded hands, compared to its average volume of 14,341,710. The stock has a market cap of $241.99 billion, a PE ratio of 24.37, a P/E/G ratio of 2.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26. The firm’s 50-day moving average price is $56.51.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The company had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. Cisco Systems’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.45%. Cisco Systems’s payout ratio is 59.83%.
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.
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