United Capital Financial Advisers LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,780,785 shares of the network equipment provider’s stock after purchasing an additional 45,371 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Cisco Systems were worth $84,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Moneta Group Investment Advisors LLC raised its stake in Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after buying an additional 59,466,550 shares during the period. Norges Bank purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $2,028,781,000. 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. Vanguard Group Inc. raised its stake in shares of Cisco Systems by 1.5% in the third quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock worth $15,110,293,000 after purchasing an additional 5,586,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cisco Systems by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 70,560,539 shares of the network equipment provider’s stock worth $3,331,344,000 after purchasing an additional 3,841,840 shares during the last quarter. 71.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on CSCO shares. Wells Fargo & Company increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 16th. The Goldman Sachs Group started coverage on Cisco Systems in a research note on Monday, March 6th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Cisco Systems from $55.00 to $54.00 in a report on Monday, May 22nd. Rosenblatt Securities upped their target price on Cisco Systems from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Finally, Cowen upped their target price on Cisco Systems from $61.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $56.52.
Cisco Systems Price Performance
Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $14.57 billion during the quarter, compared to analyst estimates of $14.36 billion. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 3.38 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Thursday, July 6th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s payout ratio is presently 56.12%.
Insiders Place Their Bets
In other news, SVP Prat Bhatt sold 2,707 shares of Cisco Systems stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.50, for a total value of $131,289.50. Following the transaction, the senior vice president now owns 46,022 shares in the company, valued at $2,232,067. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Kristina M. Johnson sold 2,880 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $49.21, for a total transaction of $141,724.80. Following the completion of the transaction, the director now directly owns 65,838 shares of the company’s stock, valued at $3,239,887.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 2,707 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.50, for a total transaction of $131,289.50. Following the transaction, the senior vice president now directly owns 46,022 shares of the company’s stock, valued at $2,232,067. The disclosure for this sale can be found here. Insiders sold 16,514 shares of company stock valued at $814,108 over the last three months. Insiders own 0.02% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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