Orion Portfolio Solutions LLC Purchases 7,966 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Orion Portfolio Solutions LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 19.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,792 shares of the network equipment provider’s stock after purchasing an additional 7,966 shares during the period. Orion Portfolio Solutions LLC’s holdings in Cisco Systems were worth $2,721,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Cisco Systems by 8.9% in the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after purchasing an additional 30,181,146 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Cisco Systems by 0.3% in the first quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock worth $19,604,258,000 after purchasing an additional 1,178,419 shares during the last quarter. State Street Corp grew its holdings in shares of Cisco Systems by 2.2% in the first quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after purchasing an additional 4,017,068 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cisco Systems by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $4,623,101,000 after purchasing an additional 1,380,066 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. 71.71% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total transaction of $28,467.53. Following the sale, the executive vice president now owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jeffery S. Sharritts sold 637 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total value of $28,467.53. Following the sale, the executive vice president now owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $2,612,042 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on shares of Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. Finally, Barclays increased their price target on shares of Cisco Systems from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.59.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $43.96 on Thursday. Cisco Systems, Inc. has a twelve month low of $40.82 and a twelve month high of $64.29. The company’s 50 day moving average is $45.13 and its 200 day moving average is $48.10. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a market cap of $180.62 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $12.78 billion. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. Cisco Systems’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.1 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.46%. Cisco Systems’s payout ratio is 53.90%.

Cisco Systems Company Profile

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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.

See Also

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

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