Empower Advisory Group LLC Sells 814 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Empower Advisory Group LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 64,335 shares of the network equipment provider’s stock after selling 814 shares during the period. Empower Advisory Group LLC’s holdings in Cisco Systems were worth $3,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Cisco Systems by 102,306.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,610,509,846 shares of the network equipment provider’s stock valued at $83,327,779,000 after acquiring an additional 1,608,937,176 shares during the period. BlackRock Inc. raised its stake in shares of Cisco Systems by 1.7% in the second quarter. BlackRock Inc. now owns 347,569,395 shares of the network equipment provider’s stock valued at $17,983,240,000 after acquiring an additional 5,924,553 shares during the period. State Street Corp raised its stake 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 acquiring an additional 2,626,429 shares during the period. Geode Capital Management LLC raised its stake 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 acquiring an additional 5,731,285 shares during the period. Finally, Morgan Stanley raised 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 during the period. Institutional investors own 72.21% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 106,321 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the completion of the transaction, the chief financial officer now directly owns 345,994 shares of the company’s stock, valued at approximately $17,306,619.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark Garrett sold 899 shares of Cisco Systems stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 106,321 shares of Cisco Systems stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the transaction, the chief financial officer now directly owns 345,994 shares of the company’s stock, valued at $17,306,619.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,475 shares of company stock valued at $7,464,194. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Melius Research reissued a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Oppenheimer reduced their price target on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, November 16th. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. New Street Research downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, November 16th. Finally, Raymond James downgraded shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.21.

Check Out Our Latest Research Report on CSCO

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.19 during midday trading on Friday, hitting $52.14. The company had a trading volume of 13,159,639 shares, compared to its average volume of 18,024,129. The stock has a market cap of $211.87 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.44 and a beta of 0.91. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $49.64 and a 200 day simple moving average of $52.30. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.91 by $0.20. The firm had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. Cisco Systems’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, January 3rd. Cisco Systems’s dividend payout ratio is presently 47.13%.

About Cisco Systems

(Free Report)

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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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