Meeder Asset Management Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 271.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,906 shares of the network equipment provider’s stock after purchasing an additional 89,083 shares during the period. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $6,304,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Cisco Systems by 2.0% during the 4th quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock valued at $14,664,472,000 after buying an additional 6,274,151 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems during the 4th quarter valued at $2,026,921,000. Morgan Stanley raised its stake in shares of 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 purchasing an additional 2,222,924 shares during the period. Dodge & Cox raised its stake in shares of 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 purchasing an additional 8,276,836 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of 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 purchasing an additional 3,778,044 shares during the period. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems stock traded down $0.64 during trading hours on Tuesday, hitting $50.53. The company’s stock had a trading volume of 557,498 shares, compared to its average volume of 21,005,725. The business has a 50 day moving average price of $51.33 and a two-hundred day moving average price of $45.58. Cisco Systems, Inc. has a 12-month low of $35.28 and a 12-month high of $53.18. The company has a market cap of $213.33 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 quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same period in the previous year, the business earned $0.77 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share 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 represents a $1.48 annualized dividend and a dividend yield of 2.93%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, April 5th. Cisco Systems’s payout ratio is 50.68%.
In other news, EVP Mark D. Chandler sold 3,024 shares of Cisco Systems stock in a transaction dated Friday, February 12th. The stock was 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 SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 8,497 shares of the business’s stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The disclosure for this sale can be found here. Insiders sold 37,776 shares of company stock worth $1,832,205 over the last ninety days. Insiders own 0.02% of the company’s stock.
A number of analysts recently issued reports on CSCO shares. Morgan Stanley boosted their price objective on Cisco Systems from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Thursday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Cisco Systems in a research note on Monday, April 26th. They issued a “hold” rating and a $55.00 target price on the stock. KeyCorp restated a “sector weight” rating on shares of Cisco Systems in a research note on Thursday, April 29th. Finally, DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, February 11th. Fourteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average 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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