Prospera Private Wealth LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,727 shares of the network equipment provider's stock, valued at approximately $1,529,000.
Other hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider's stock worth $1,319,000 after buying an additional 18,339 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Cisco Systems by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 231,166 shares of the network equipment provider's stock worth $11,538,000 after purchasing an additional 58,463 shares in the last quarter. EntryPoint Capital LLC boosted its position in shares of Cisco Systems by 67.1% during the first quarter. EntryPoint Capital LLC now owns 1,452 shares of the network equipment provider's stock worth $72,000 after acquiring an additional 583 shares during the last quarter. Delap Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the first quarter worth about $306,000. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Cisco Systems by 6.6% during the 1st quarter. Freestone Capital Holdings LLC now owns 103,069 shares of the network equipment provider's stock worth $5,144,000 after acquiring an additional 6,381 shares in the last quarter. Institutional investors own 73.33% of the company's stock.
Cisco Systems Price Performance
CSCO traded up $0.12 during trading on Wednesday, reaching $57.13. The company's stock had a trading volume of 4,431,770 shares, compared to its average volume of 19,092,721. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $227.99 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 4.67 and a beta of 0.83. The firm has a fifty day simple moving average of $54.52 and a two-hundred day simple moving average of $49.95.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the company earned $0.98 EPS. The company's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.
Cisco Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is presently 68.67%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a "neutral" rating to an "overweight" rating and upped their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.94.
Get Our Latest Stock Report on Cisco Systems
Insider Activity at Cisco Systems
In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,628 shares of company stock worth $18,449,561. Insiders own 0.01% of the company's stock.
About Cisco Systems
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Free Report)
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.
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