D.A. Davidson & CO. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 533,236 shares of the network equipment provider’s stock after purchasing an additional 2,457 shares during the quarter. D.A. Davidson & CO.’s holdings in Cisco Systems were worth $27,590,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Cisco Systems by 102,306.1% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,610,509,846 shares of the network equipment provider’s stock worth $83,327,779,000 after acquiring an additional 1,608,937,176 shares in the last quarter. State Street Corp boosted its stake in Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after purchasing an additional 4,061,022 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cisco Systems by 2.1% during the 1st 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. increased its holdings in 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 worth $3,674,524,000 after purchasing an additional 399,565 shares in the last quarter. 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 worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. New Street Research downgraded Cisco Systems from a “buy” rating to a “neutral” rating in a report on Thursday, November 16th. DZ Bank downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Friday. StockNews.com started coverage on shares of Cisco Systems in a report on Thursday, October 5th. They set a “buy” rating on the stock. Evercore ISI increased their price objective on shares of Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Finally, Jefferies Financial Group lifted their target price on shares of Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.38.
In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now directly owns 169,396 shares in the company, valued at $9,523,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.02% of the company’s stock.
Cisco Systems Stock Performance
NASDAQ:CSCO traded down $0.46 on Tuesday, reaching $47.81. 4,063,846 shares of the company’s stock were exchanged, compared to its average volume of 18,393,016. The stock has a fifty day simple moving average of $53.21 and a 200-day simple moving average of $52.33. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The firm has a market cap of $193.86 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 2.37 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The business had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.92%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.57 earnings per share for the current year.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 3rd. Cisco Systems’s payout ratio is presently 47.13%.
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 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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