WASHINGTON TRUST Co boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,651 shares of the network equipment provider’s stock after buying an additional 4,604 shares during the quarter. WASHINGTON TRUST Co’s holdings in Cisco Systems were worth $16,528,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in CSCO. Norges Bank acquired a new stake in Cisco Systems during the 4th quarter worth approximately $2,026,921,000. Dodge & Cox lifted its holdings 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 worth $1,727,018,000 after buying an additional 8,276,836 shares in the last quarter. BlackRock Inc. lifted its holdings in Cisco Systems by 2.0% during the 4th quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock worth $14,664,472,000 after buying an additional 6,274,151 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cisco Systems by 10.9% in 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 purchasing an additional 3,778,044 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Cisco Systems by 55,150.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,708,433 shares of the network equipment provider’s stock valued at $165,952,000 after purchasing an additional 3,701,721 shares in the last quarter. Institutional investors own 70.62% of the company’s stock.
Shares of NASDAQ:CSCO opened at $51.17 on Tuesday. The company has a market cap of $216.03 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.54 and a beta of 0.95. The firm’s 50-day simple moving average is $51.33 and its 200-day simple moving average is $45.58. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $53.18.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Stockholders of record on Tuesday, April 6th were issued a $0.37 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. Cisco Systems’s payout ratio is presently 50.68%.
In related news, EVP Mark D. Chandler sold 3,024 shares of the firm’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $142,763.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maria Martinez sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The shares were sold at an average price of $46.66, for a total transaction of $279,960.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,776 shares of company stock worth $1,832,205. Insiders own 0.02% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Oppenheimer restated a “buy” rating and issued a $50.00 price objective on shares of Cisco Systems in a report on Tuesday, February 9th. Morgan Stanley raised their price objective on shares of Cisco Systems from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. Piper Sandler raised their price objective on shares of Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Citigroup raised their price objective on shares of Cisco Systems from $45.00 to $50.00 in a report on Wednesday, February 10th. Finally, KeyCorp restated a “sector weight” rating on shares of Cisco Systems in a report on Thursday, April 29th. Fourteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $50.71.
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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