NJ State Employees Deferred Compensation Plan continued to hold its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the network equipment provider’s stock at the end of the first quarter. Cisco Systems comprises 1.0% of NJ State Employees Deferred Compensation Plan’s investment portfolio, making the stock its 13th largest position. NJ State Employees Deferred Compensation Plan’s holdings in Cisco Systems were worth $5,070,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Marietta Wealth Management LLC purchased a new position in Cisco Systems during the fourth quarter worth $672,000. Ativo Capital Management LLC raised its position in Cisco Systems by 102.3% in the fourth quarter. Ativo Capital Management LLC now owns 110,245 shares of the network equipment provider’s stock worth $3,332,000 after buying an additional 55,744 shares during the period. Ally Financial Inc. purchased a new position in Cisco Systems during the fourth quarter worth $3,626,000. Greenwood Capital Associates LLC raised its position in Cisco Systems by 2.3% in the fourth quarter. Greenwood Capital Associates LLC now owns 127,632 shares of the network equipment provider’s stock worth $3,857,000 after buying an additional 2,904 shares during the period. Finally, Azimuth Capital Management LLC raised its position in Cisco Systems by 2.3% in the fourth quarter. Azimuth Capital Management LLC now owns 454,959 shares of the network equipment provider’s stock worth $13,749,000 after buying an additional 10,443 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) traded down 2.16% on Friday, hitting $30.37. The stock had a trading volume of 34,802,193 shares. The firm’s 50-day moving average price is $31.48 and its 200-day moving average price is $32.55. The firm has a market cap of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. Cisco Systems’s payout ratio is currently 60.73%.
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A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered shares of Cisco Systems from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $37.00 to $35.00 in a research report on Tuesday, May 9th. Drexel Hamilton restated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, May 16th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Royal Bank Of Canada restated an “outperform” rating and set a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research report on Thursday, May 18th. Finally, Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Fourteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $35.52.
In related news, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 396,179 shares of company stock valued at $12,503,407. 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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