Patton Albertson Miller Group LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,990 shares of the network equipment provider’s stock after selling 6,844 shares during the quarter. Cisco Systems comprises approximately 1.0% of Patton Albertson Miller Group LLC’s holdings, making the stock its 22nd biggest position. Patton Albertson Miller Group LLC’s holdings in Cisco Systems were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Cookson Peirce & Co. Inc. bought a new position in shares of Cisco Systems in the first quarter valued at $24,023,000. Braun Stacey Associates Inc. acquired a new stake in Cisco Systems during the 1st quarter valued at $13,197,000. Manning & Napier Group LLC lifted its holdings in Cisco Systems by 7.5% during the 1st quarter. Manning & Napier Group LLC now owns 781,850 shares of the network equipment provider’s stock valued at $33,533,000 after purchasing an additional 54,853 shares during the last quarter. British Airways Pensions Investment Management Ltd acquired a new stake in Cisco Systems during the 1st quarter valued at $20,514,000. Finally, Sarasin & Partners LLP acquired a new stake in Cisco Systems during the 1st quarter valued at $606,000. 73.76% of the stock is owned by institutional investors and hedge funds.
CSCO has been the subject of several research reports. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $46.32 price target for the company in a report on Tuesday, April 3rd. BidaskClub downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 19th. Goldman Sachs Group raised Cisco Systems from a “buy” rating to a “conviction-buy” rating in a report on Friday, March 23rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a report on Monday, June 11th. Finally, Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.11.
Cisco Systems opened at $43.16 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $210.72 billion, a P/E ratio of 20.07, a P/E/G ratio of 3.11 and a beta of 1.09. Cisco Systems, Inc. has a 52 week low of $30.36 and a 52 week high of $46.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. During the same quarter in the previous year, the firm earned $0.60 earnings per share. sell-side analysts predict that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Friday, July 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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