Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by Hoertkorn Richard Charles

Hoertkorn Richard Charles lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% in the 2nd quarter, Holdings Channel reports. The fund owned 71,541 shares of the network equipment provider’s stock after selling 748 shares during the period. Cisco Systems comprises 1.8% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 18th biggest holding. Hoertkorn Richard Charles’ holdings in Cisco Systems were worth $3,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after acquiring an additional 4,061,022 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cisco Systems by 2.1% in the first quarter. Geode Capital Management LLC now owns 78,378,278 shares of the network equipment provider’s stock worth $4,088,864,000 after purchasing an additional 1,641,294 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Cisco Systems by 0.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 70,960,104 shares of the network equipment provider’s stock valued at $3,674,524,000 after buying an additional 399,565 shares during the period. Morgan Stanley raised its holdings in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Cisco Systems Trading Down 0.6 %

CSCO stock opened at $56.04 on Friday. The business has a fifty day moving average price of $54.10 and a 200 day moving average price of $51.08. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $58.19. The stock has a market capitalization of $227.23 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.58 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be given a $0.39 dividend. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s payout ratio is 50.81%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Rosenblatt Securities upped their target price on Cisco Systems from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Bank of America upped their target price on Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group upped their price target on Cisco Systems from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Finally, Citigroup upped their price target on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.43.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the transaction, the chief executive officer now directly owns 716,191 shares in the company, valued at approximately $39,505,095.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 17,687 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.16, for a total value of $975,614.92. Following the completion of the transaction, the chief executive officer now owns 716,191 shares in the company, valued at $39,505,095.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,438 shares of company stock worth $2,948,779. Insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.