Asset Planning Services Inc. LA ADV lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,749 shares of the network equipment provider’s stock after buying an additional 1,050 shares during the quarter. Cisco Systems makes up 3.2% of Asset Planning Services Inc. LA ADV’s holdings, making the stock its 15th largest holding. Asset Planning Services Inc. LA ADV’s holdings in Cisco Systems were worth $5,001,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CSCO. First Trust Advisors LP increased its holdings in Cisco Systems by 22.8% in the 3rd quarter. First Trust Advisors LP now owns 27,173,489 shares of the network equipment provider’s stock valued at $1,070,364,000 after acquiring an additional 5,044,447 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cisco Systems by 60.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 12,270,764 shares of the network equipment provider’s stock valued at $483,345,000 after purchasing an additional 4,600,797 shares during the last quarter. BlackRock Inc. grew its stake in shares of Cisco Systems by 1.2% in the 3rd quarter. BlackRock Inc. now owns 321,423,547 shares of the network equipment provider’s stock worth $12,660,874,000 after buying an additional 3,721,337 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth about $104,089,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Cisco Systems by 28.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,729,503 shares of the network equipment provider’s stock valued at $304,465,000 after acquiring an additional 1,701,421 shares during the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
CSCO has been the subject of several analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Cisco Systems from $43.00 to $45.00 in a research note on Friday, November 13th. Bank of America lowered their price target on Cisco Systems from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. The Goldman Sachs Group set a $45.00 price objective on shares of Cisco Systems and gave the company a “neutral” rating in a research report on Friday, November 13th. Wolfe Research lowered shares of Cisco Systems from an “outperform” rating to a “peer perform” rating and set a $42.00 target price for the company. in a report on Friday, September 18th. Finally, Piper Sandler upped their price target on shares of Cisco Systems from $44.00 to $45.00 in a report on Friday, November 13th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.54.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Thursday, November 12th. The network equipment provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $11.93 billion during the quarter, compared to analyst estimates of $11.85 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 20th. Investors of record on Tuesday, January 5th will be issued a $0.36 dividend. The ex-dividend date is Monday, January 4th. This represents a $1.44 annualized dividend and a yield of 3.17%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.32%.
In other Cisco Systems news, EVP Maria Martinez sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the company’s stock in a transaction on Friday, November 27th. The stock was sold at an average price of $42.81, for a total value of $1,926,450.00. Following the transaction, the chief financial officer now owns 297,078 shares in the company, valued at $12,717,909.18. The disclosure for this sale can be found here. Insiders sold 371,384 shares of company stock worth $15,429,225 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.
About Cisco Systems
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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