Sound View Wealth Advisors Group LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 32,999 shares of the network equipment provider’s stock after selling 731 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Cisco Systems were worth $1,706,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Cisco Systems by 2.0% in the fourth quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock worth $14,664,472,000 after purchasing an additional 6,274,151 shares in the last quarter. Norges Bank bought a new stake in Cisco Systems during the 4th quarter valued at $2,026,921,000. Morgan Stanley boosted its position in Cisco Systems by 6.1% during the 4th quarter. Morgan Stanley now owns 38,947,804 shares of the network equipment provider’s stock valued at $1,742,915,000 after acquiring an additional 2,222,924 shares in the last quarter. Dodge & Cox boosted its position in Cisco Systems by 27.3% during the 4th quarter. Dodge & Cox now owns 38,592,574 shares of the network equipment provider’s stock valued at $1,727,018,000 after acquiring an additional 8,276,836 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Cisco Systems by 10.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,461,276 shares of the network equipment provider’s stock valued at $1,721,142,000 after acquiring an additional 3,778,044 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors.
In other Cisco Systems news, Director M Michele Burns sold 13,982 shares of the stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $51.55, for a total transaction of $720,772.10. Following the transaction, the director now owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 3,024 shares of the stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,776 shares of company stock worth $1,832,205. 0.02% of the stock is currently owned by insiders.
NASDAQ CSCO traded down $0.77 during mid-day trading on Tuesday, reaching $50.40. 438,094 shares of the stock were exchanged, compared to its average volume of 21,005,725. Cisco Systems, Inc. has a 1-year low of $35.28 and a 1-year high of $53.18. The business’s fifty day simple moving average is $51.33 and its 200 day simple moving average is $45.58. The stock has a market capitalization of $212.78 billion, a PE ratio of 20.80, a PEG ratio of 2.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the business earned $0.77 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, April 5th. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.
Several analysts have issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft started coverage on Cisco Systems in a research report on Monday, April 26th. They set a “hold” rating and a $55.00 target price on the stock. Wolfe Research upgraded Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research report on Thursday, April 22nd. Oppenheimer restated a “buy” rating and set a $50.00 target price on shares of Cisco Systems in a report on Tuesday, February 9th. KeyCorp restated a “sector weight” rating on shares of Cisco Systems in a report on Thursday, April 29th. Finally, Credit Suisse Group boosted their target price on Cisco Systems from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Fourteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.71.
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. 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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