Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Increased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 182,299 shares of the network equipment provider’s stock after buying an additional 3,800 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Cisco Systems were worth $9,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its position in shares of Cisco Systems by 2.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,188,172 shares of the network equipment provider’s stock worth $161,066,000 after purchasing an additional 66,812 shares during the period. Skopos Labs Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $632,000. Congress Wealth Management LLC DE raised its position in shares of Cisco Systems by 3.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 244,171 shares of the network equipment provider’s stock worth $12,336,000 after purchasing an additional 7,388 shares during the period. ProVise Management Group LLC raised its position in shares of Cisco Systems by 5.4% during the fourth quarter. ProVise Management Group LLC now owns 28,448 shares of the network equipment provider’s stock worth $1,437,000 after purchasing an additional 1,465 shares during the period. Finally, Team Hewins LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $1,142,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ:CSCO traded down $0.18 on Friday, reaching $46.42. The company had a trading volume of 11,941,076 shares, compared to its average volume of 19,514,820. Cisco Systems, Inc. has a twelve month low of $46.20 and a twelve month high of $58.19. The stock has a 50-day moving average price of $48.40 and a 200 day moving average price of $49.30. The stock has a market capitalization of $187.02 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.70 and a beta of 0.87. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CSCO shares. Barclays boosted their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Citigroup initiated coverage on Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price target on the stock. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Monday, May 13th. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. initiated coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.47.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 27,457 shares of company stock valued at $1,358,772 over the last quarter. Insiders own 0.02% of the company’s stock.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.