Ledge Wealth Management Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 11.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,090 shares of the network equipment provider’s stock after selling 1,500 shares during the quarter. Ledge Wealth Management Inc.’s holdings in Cisco Systems were worth $580,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Moneta Group Investment Advisors LLC grew its holdings in shares of 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 purchasing an additional 59,466,550 shares in the last quarter. Norges Bank acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $2,028,781,000. Morgan Stanley grew its holdings in shares of Cisco Systems by 17.4% during the 4th 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cisco Systems by 1.5% during the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 5.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 71.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on CSCO. Raymond James lifted their price objective on Cisco Systems from $63.00 to $64.00 in a report on Thursday, May 18th. StockNews.com downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 7th. Piper Sandler cut their target price on Cisco Systems from $53.00 to $51.00 in a research report on Thursday, May 18th. Tigress Financial restated a “buy” rating and set a $73.00 target price on shares of Cisco Systems in a research report on Friday, March 17th. Finally, Barclays cut their target price on Cisco Systems from $52.00 to $51.00 in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $56.52.
Insider Buying and Selling at Cisco Systems
Cisco Systems Stock Down 1.5 %
Shares of Cisco Systems stock opened at $50.33 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 0.16. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $52.56. The business has a fifty day simple moving average of $48.72 and a 200 day simple moving average of $48.87. The stock has a market cap of $205.10 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The business had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 3.38 EPS for the current year.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Thursday, July 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 3.10%. Cisco Systems’s payout ratio is 56.12%.
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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