Ashfield Capital Partners LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,375 shares of the network equipment provider’s stock after selling 9,754 shares during the period. Ashfield Capital Partners LLC’s holdings in Cisco Systems were worth $4,271,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Dodge & Cox purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,306,395,000. Loomis Sayles & Co. L P raised 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. Boston Partners raised its stake in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the period. Finally, Macquarie Group Ltd. raised 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. 75.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cisco Systems, Inc. (CSCO) opened at 31.56 on Friday. The company’s 50-day moving average is $31.58 and its 200 day moving average is $32.49. The company has a market capitalization of $157.80 billion, a price-to-earnings ratio of 16.02 and a beta of 1.24. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the firm posted $0.57 EPS. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is presently 58.29%.
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CSCO has been the topic of a number of recent analyst reports. Instinet reissued a “neutral” rating and issued a $29.00 price target on shares of Cisco Systems in a report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a report on Monday, June 26th. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a report on Wednesday, April 26th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $33.45 to $39.00 in a report on Monday, May 15th. Finally, Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $35.31.
In other news, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock valued at $12,503,407 over the last three months. 0.11% of the stock is currently owned by 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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