Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 14.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,363 shares of the network equipment provider’s stock after acquiring an additional 105,038 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cisco Systems were worth $44,049,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Cisco Systems by 1.7% during the second quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock worth $17,983,240,000 after acquiring an additional 5,924,553 shares in the last quarter. State Street Corp increased its holdings in shares of Cisco Systems by 1.4% in the second quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock valued at $9,701,554,000 after purchasing an additional 2,626,429 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cisco Systems by 7.3% in the second quarter. Geode Capital Management LLC now owns 84,109,563 shares of the network equipment provider’s stock valued at $4,341,473,000 after purchasing an additional 5,731,285 shares during the last quarter. Morgan Stanley grew its stake in shares of Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the period. 72.21% of the stock is owned by institutional investors.
Insider Buying and Selling at Cisco Systems
In other news, CFO Richard Scott Herren sold 13,616 shares of Cisco Systems stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $50.00, for a total transaction of $680,800.00. Following the sale, the chief financial officer now directly owns 452,315 shares in the company, valued at approximately $22,615,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Richard Scott Herren sold 13,616 shares of Cisco Systems stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $50.00, for a total value of $680,800.00. Following the completion of the sale, the chief financial officer now owns 452,315 shares of the company’s stock, valued at approximately $22,615,750. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $47.88, for a total value of $43,044.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,475 shares of company stock worth $7,464,194. Corporate insiders own 0.02% of the company’s stock.
Cisco Systems Stock Up 0.4 %
Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter last year, the firm posted $0.77 EPS. Cisco Systems’s revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 47.13%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on CSCO shares. Oppenheimer cut their price objective on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, November 16th. Raymond James cut shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. UBS Group dropped their target price on shares of Cisco Systems from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, November 16th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Rosenblatt Securities dropped their price objective on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.21.
Cisco Systems Profile
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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