Boston Private Wealth LLC Cuts Position in Cisco Systems, Inc. (CSCO)

Boston Private Wealth LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,783 shares of the network equipment provider’s stock after selling 17,379 shares during the period. Boston Private Wealth LLC’s holdings in Cisco Systems were worth $17,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Bank of New York Mellon Corp increased its position in shares of Cisco Systems by 12.8% in the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after acquiring an additional 13,927,416 shares during the period. Amundi Pioneer Asset Management Inc. increased its position in shares of Cisco Systems by 91.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after acquiring an additional 9,292,187 shares during the period. Mackenzie Financial Corp increased its position in shares of Cisco Systems by 5,651.3% in the 4th quarter. Mackenzie Financial Corp now owns 4,910,280 shares of the network equipment provider’s stock valued at $188,064,000 after acquiring an additional 4,824,903 shares during the period. SG Americas Securities LLC increased its position in shares of Cisco Systems by 565.8% in the 1st quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock valued at $194,382,000 after acquiring an additional 3,851,446 shares during the period. Finally, Swedbank increased its position in shares of Cisco Systems by 43.5% in the 4th quarter. Swedbank now owns 12,425,302 shares of the network equipment provider’s stock valued at $475,889,000 after acquiring an additional 3,768,806 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

CSCO stock opened at $43.78 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $46.37. The stock has a market cap of $209.95 billion, a PE ratio of 20.36, a PEG ratio of 2.63 and a beta of 1.07.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The business had revenue of $12.46 billion for the quarter, compared to analyst estimates of $12.42 billion. During the same period in the prior year, the company posted $0.60 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, July 5th. Cisco Systems’s payout ratio is currently 61.40%.

In other news, EVP David Goeckeler sold 35,000 shares of the stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the sale, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at approximately $21,222,117.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Credit Suisse Group assumed coverage on Cisco Systems in a research report on Wednesday, May 9th. They issued a “neutral” rating and a $41.00 target price on the stock. Argus increased their price target on Cisco Systems to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 18th. Finally, Macquarie assumed coverage on Cisco Systems in a research report on Monday, April 30th. They set an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $46.42.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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