Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Taylor Hoffman Wealth Management

Taylor Hoffman Wealth Management lifted its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,009 shares of the network equipment provider’s stock after acquiring an additional 6,466 shares during the period. Cisco Systems accounts for 2.1% of Taylor Hoffman Wealth Management’s holdings, making the stock its 13th largest position. Taylor Hoffman Wealth Management’s holdings in Cisco Systems were worth $4,749,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after buying an additional 6,345,954 shares in the last quarter. FMR LLC raised its holdings in Cisco Systems by 3.2% in the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after buying an additional 1,790,717 shares during the period. Northern Trust Corp lifted its position in Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after buying an additional 1,847,682 shares during the last quarter. Invesco Ltd. raised its stake in shares of Cisco Systems by 3.7% in the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after acquiring an additional 1,181,327 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.17 during midday trading on Friday, reaching $48.17. The stock had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. The stock has a market cap of $195.05 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.79 and a beta of 0.87. The firm has a fifty day simple moving average of $48.69 and a two-hundred day simple moving average of $49.52. The company has a quick ratio of 1.26, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 12-month low of $45.70 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CSCO shares. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday. Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.47.

Check Out Our Latest Research Report on Cisco Systems

Cisco Systems Company Profile

(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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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