Freedom Day Solutions LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,831 shares of the network equipment provider's stock after selling 2,411 shares during the period. Freedom Day Solutions LLC's holdings in Cisco Systems were worth $468,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CSCO. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider's stock worth $15,110,293,000 after purchasing an additional 5,586,273 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider's stock worth $2,975,139,000 after buying an additional 3,087,294 shares during the period. First Trust Advisors LP increased its stake in Cisco Systems by 1.4% during the 3rd quarter. First Trust Advisors LP now owns 28,856,199 shares of the network equipment provider's stock worth $1,154,248,000 after buying an additional 407,992 shares during the period. Boston Partners increased its stake in Cisco Systems by 7.5% during the 4th quarter. Boston Partners now owns 16,398,508 shares of the network equipment provider's stock worth $781,854,000 after buying an additional 1,144,033 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Cisco Systems by 2.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,599,027 shares of the network equipment provider's stock worth $543,961,000 after buying an additional 303,172 shares during the period. 71.10% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In related news, SVP Prat Bhatt sold 608 shares of the firm's stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the sale, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of Cisco Systems stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the completion of the sale, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the completion of the sale, the executive vice president now owns 184,853 shares of the company's stock, valued at $9,409,017.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,568 shares of company stock worth $2,376,624. 0.02% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CSCO. Morgan Stanley lifted their price target on shares of Cisco Systems from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 16th. UBS Group boosted their target price on shares of Cisco Systems from $48.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, February 16th. The Goldman Sachs Group started coverage on shares of Cisco Systems in a research report on Monday, March 6th. They issued a "neutral" rating for the company. StockNews.com downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Thursday, April 27th. Finally, Rosenblatt Securities lifted their target price on Cisco Systems from $51.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, February 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $56.38.
Cisco Systems Stock Down 0.7 %
Shares of Cisco Systems stock traded down $0.32 during midday trading on Thursday, hitting $45.64. The company's stock had a trading volume of 6,372,563 shares, compared to its average volume of 18,265,660. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $52.56. The company has a quick ratio of 1.30, a current ratio of 1.41 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $186.93 billion, a P/E ratio of 16.84, a PEG ratio of 2.15 and a beta of 1.00. The stock has a 50-day simple moving average of $49.37 and a 200-day simple moving average of $47.98.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, February 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. The company had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.33 earnings per share for the current year.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Investors of record on Wednesday, April 5th were issued a dividend of $0.39 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, April 4th. Cisco Systems's dividend payout ratio (DPR) is currently 57.14%.
About Cisco Systems
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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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