Addenda Capital Inc. Sells 331 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Addenda Capital Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,170 shares of the network equipment provider’s stock after selling 331 shares during the period. Addenda Capital Inc.’s holdings in Cisco Systems were worth $5,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Valued Wealth Advisors LLC bought a new stake in Cisco Systems during the fourth quarter worth $32,000. Delos Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its stake in shares of Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in shares of Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 0.1 %

Shares of Cisco Systems stock opened at $47.51 on Friday. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The stock’s 50-day simple moving average is $47.06 and its 200 day simple moving average is $48.79. The stock has a market capitalization of $191.41 billion, a P/E ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. 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 (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $0.88 EPS. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research analyst reports. Oppenheimer raised their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Wells Fargo & Company raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. 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. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.47.

View Our Latest Research Report on Cisco Systems

Insider Activity

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.

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

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