Commerzbank Aktiengesellschaft FI decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 49.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 886,122 shares of the network equipment provider’s stock after selling 879,067 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Cisco Systems were worth $42,498,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Nuveen Asset Management LLC increased its position in Cisco Systems by 1,546.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after purchasing an additional 45,351,980 shares during the period. First Trust Advisors LP increased its position in Cisco Systems by 155.6% during the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock worth $862,012,000 after purchasing an additional 10,621,798 shares during the period. Parnassus Investments CA acquired a new position in Cisco Systems during the 3rd quarter worth approximately $444,882,000. Massachusetts Financial Services Co. MA increased its position in Cisco Systems by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after purchasing an additional 2,496,113 shares during the period. Finally, California Public Employees Retirement System increased its position in Cisco Systems by 13.2% during the 3rd quarter. California Public Employees Retirement System now owns 15,745,642 shares of the network equipment provider’s stock worth $777,992,000 after purchasing an additional 1,836,457 shares during the period. Institutional investors own 72.55% of the company’s stock.
In related news, CEO Charles Robbins sold 208,084 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.83, for a total value of $9,328,405.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 39,343 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the sale, the chief accounting officer now directly owns 137,634 shares in the company, valued at approximately $6,177,013.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 388,864 shares of company stock worth $17,474,321. Insiders own 0.03% of the company’s stock.
CSCO opened at $49.02 on Friday. The stock has a market cap of $208.08 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.85 and a beta of 1.23. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The stock’s 50 day simple moving average is $46.60 and its 200 day simple moving average is $49.08. Cisco Systems, Inc. has a 1-year low of $43.40 and a 1-year high of $58.26.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, January 2nd. Cisco Systems’s dividend payout ratio is currently 49.12%.
CSCO has been the topic of several recent analyst reports. Citigroup cut Cisco Systems from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $52.00 in a research report on Wednesday, January 8th. Robert W. Baird reiterated a “buy” rating and set a $54.00 target price on shares of Cisco Systems in a research report on Monday, November 11th. KeyCorp dropped their target price on Cisco Systems from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Credit Suisse Group set a $46.00 target price on Cisco Systems and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Barclays upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $54.69.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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