Lucia Wealth Services LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,774 shares of the network equipment provider’s stock after purchasing an additional 765 shares during the quarter. Lucia Wealth Services LLC’s holdings in Cisco Systems were worth $227,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Cisco Systems by 1.2% during the third quarter. BlackRock Inc. now owns 321,423,547 shares of the network equipment provider’s stock worth $12,660,874,000 after acquiring an additional 3,721,337 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Cisco Systems by 103.2% in the second quarter. Nordea Investment Management AB now owns 48,175,664 shares of the network equipment provider’s stock valued at $2,249,322,000 after acquiring an additional 24,469,149 shares during the period. First Trust Advisors LP lifted its holdings in Cisco Systems by 22.8% in the third 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 period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Cisco Systems by 20.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,137,775 shares of the network equipment provider’s stock worth $1,024,437,000 after buying an additional 3,834,365 shares during the period. Finally, FIL Ltd raised its stake in shares of Cisco Systems by 7.7% during the 2nd quarter. FIL Ltd now owns 20,460,182 shares of the network equipment provider’s stock worth $954,263,000 after buying an additional 1,462,318 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.
In other news, CEO Charles Robbins sold 7,806 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $42.10, for a total transaction of $328,632.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total value of $1,890,450.00. Insiders have sold a total of 53,152 shares of company stock worth $2,233,013 over the last quarter. Insiders own 0.02% of the company’s stock.
Several brokerages have issued reports on CSCO. JPMorgan Chase & Co. dropped their target price on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Smith Barney Citigroup increased their price target on Cisco Systems from $43.00 to $45.00 in a report on Friday. Robert W. Baird restated a “hold” rating and set a $48.00 target price on shares of Cisco Systems in a report on Monday, August 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $49.00 price target on shares of Cisco Systems in a research report on Friday. Finally, Bank of America reduced their price target on Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, September 16th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and an average price target of $47.54.
NASDAQ CSCO traded down $0.36 on Tuesday, hitting $42.18. 217,007 shares of the stock traded hands, compared to its average volume of 25,921,303. The stock has a 50-day moving average of $38.61 and a 200 day moving average of $42.87. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $50.28. The company has a market capitalization of $179.56 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. The company has a current ratio of 1.72, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Thursday, November 12th. The network equipment provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Cisco Systems had a return on equity of 33.04% and a net margin of 21.76%. The firm had revenue of $11.93 billion for the quarter, compared to analysts’ expectations of $11.85 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Cisco Systems’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, October 1st. Cisco Systems’s payout ratio is currently 49.32%.
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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