Deltec Asset Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 86,246 shares of the network equipment provider’s stock after selling 1,000 shares during the period. Deltec Asset Management LLC’s holdings in Cisco Systems were worth $2,915,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Dodge & Cox acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,950,935,000. Norges Bank acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,306,395,000. Loomis Sayles & Co. L P boosted its stake in shares of Cisco Systems by 4.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 39,089,052 shares of the network equipment provider’s stock worth $1,181,271,000 after buying an additional 1,624,597 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock worth $768,153,000 after buying an additional 1,365,708 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Cisco Systems by 0.7% in the first quarter. Fisher Asset Management LLC now owns 15,693,906 shares of the network equipment provider’s stock worth $530,454,000 after buying an additional 108,056 shares during the period. Hedge funds and other institutional investors own 75.30% of the company’s stock.
Shares of Cisco Systems, Inc. (CSCO) opened at 31.86 on Friday. The stock has a market capitalization of $159.30 billion, a PE ratio of 16.17 and a beta of 1.24. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The stock’s 50 day moving average price is $31.56 and its 200 day moving average price is $32.39.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
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A number of analysts have recently commented on CSCO shares. Instinet restated a “neutral” rating and set a $29.00 target price on shares of Cisco Systems in a report on Monday, July 3rd. J P Morgan Chase & Co restated a “neutral” rating on shares of Cisco Systems in a report on Monday, June 26th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a report on Wednesday, April 26th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $33.45 to $39.00 in a report on Monday, May 15th. Finally, Berenberg Bank started coverage on shares of Cisco Systems in a report on Tuesday, April 4th. They set a “hold” rating and a $35.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.32.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 in the last three months. 0.11% of the stock is currently owned by corporate insiders.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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