1832 Asset Management L.P. Sells 62,817 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

1832 Asset Management L.P. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 43.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,731 shares of the network equipment provider’s stock after selling 62,817 shares during the quarter. 1832 Asset Management L.P.’s holdings in Cisco Systems were worth $4,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Cisco Systems in the 4th quarter valued at about $2,528,939,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 29.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after acquiring an additional 3,989,543 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cisco Systems by 12.3% during the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after buying an additional 2,723,260 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Citigroup started coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Finally, Barclays lifted their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.47.

Check Out Our Latest Stock Analysis on CSCO

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 57,166 shares of company stock worth $2,727,647 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $45.84 on Friday. The company has a market capitalization of $184.68 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The company’s fifty day moving average price is $47.74 and its 200-day moving average price is $48.98. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a one year low of $45.64 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s payout ratio is 53.87%.

Cisco Systems Profile

(Free Report)

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

See Also

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

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