US Asset Management LLC Sells 303 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

US Asset Management LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,399 shares of the network equipment provider’s stock after selling 303 shares during the period. US Asset Management LLC’s holdings in Cisco Systems were worth $769,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Northern Trust Corp raised its stake in shares of Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the last quarter. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $2,528,939,000. Wellington Management Group LLP raised its stake in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Barclays lifted their target price on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 17th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Citigroup initiated coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $56.47.

Read Our Latest Stock Report on Cisco Systems

Cisco Systems Trading Up 1.3 %

CSCO traded up $0.63 during trading on Friday, reaching $47.35. 9,099,397 shares of the company’s stock were exchanged, compared to its average volume of 19,352,115. The company’s fifty day moving average price is $47.16 and its 200-day moving average price is $48.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The firm has a market capitalization of $190.76 billion, a PE ratio of 15.73, a P/E/G ratio of 2.66 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

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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