Parametric Portfolio Associates LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,856,157 shares of the network equipment provider’s stock after selling 3,133,583 shares during the period. Cisco Systems comprises approximately 0.5% of Parametric Portfolio Associates LLC’s investment portfolio, making the stock its 29th largest position. Parametric Portfolio Associates LLC owned about 0.20% of Cisco Systems worth $333,138,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Advantage Investment Management LLC boosted its stake in shares of Cisco Systems by 15.6% in the first quarter. Advantage Investment Management LLC now owns 8,266 shares of the network equipment provider’s stock worth $279,000 after buying an additional 1,118 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Cisco Systems by 4.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 29,047 shares of the network equipment provider’s stock worth $951,000 after buying an additional 1,157 shares in the last quarter. Warren Averett Asset Management LLC boosted its stake in shares of Cisco Systems by 36.6% in the first quarter. Warren Averett Asset Management LLC now owns 25,157 shares of the network equipment provider’s stock worth $850,000 after buying an additional 6,739 shares in the last quarter. Parthenon LLC boosted its stake in shares of Cisco Systems by 0.9% in the first quarter. Parthenon LLC now owns 179,795 shares of the network equipment provider’s stock worth $6,077,000 after buying an additional 1,544 shares in the last quarter. Finally, First Foundation Advisors boosted its stake in shares of Cisco Systems by 6.8% in the first quarter. First Foundation Advisors now owns 75,020 shares of the network equipment provider’s stock worth $2,536,000 after buying an additional 4,791 shares in the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.52 on Thursday. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company has a market cap of $157.60 billion, a P/E ratio of 16.00 and a beta of 1.24. The company’s 50 day moving average price is $31.58 and its 200-day moving average price is $32.49.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period in the prior year, the business earned $0.57 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is 58.29%.
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A number of brokerages recently issued reports on CSCO. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Thursday. Deutsche Bank AG set a $40.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday. BidaskClub cut Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday. BMO Capital Markets restated a “hold” rating on shares of Cisco Systems in a research note on Friday, July 28th. Finally, Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 price objective on the stock. in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.31.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the company’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 completion of the sale, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 over the last quarter. Company insiders own 0.11% of the company’s stock.
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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