Total Investment Management Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,556 shares of the network equipment provider’s stock after selling 781 shares during the period. Cisco Systems makes up approximately 0.1% of Total Investment Management Inc.’s portfolio, making the stock its 24th largest position. Total Investment Management Inc.’s holdings in Cisco Systems were worth $306,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Cisco Systems by 38.3% in the 1st quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock worth $3,718,681,000 after buying an additional 26,179,953 shares during the last quarter. Public Investment Fund purchased a new stake in shares of Cisco Systems during the 1st quarter valued at about $490,881,000. APG Asset Management N.V. grew its stake in shares of Cisco Systems by 225.0% in the first quarter. APG Asset Management N.V. now owns 11,069,036 shares of the network equipment provider’s stock worth $532,232,000 after acquiring an additional 7,663,550 shares during the period. Advisor Group Holdings Inc. purchased a new position in shares of Cisco Systems during the first quarter valued at approximately $64,944,000. Finally, BlackRock Inc. raised its holdings in shares of Cisco Systems by 1.9% during the first quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock valued at $12,703,234,000 after purchasing an additional 5,966,755 shares during the last quarter. Institutional investors own 71.36% of the company’s stock.
A number of equities research analysts have commented on CSCO shares. JPMorgan Chase & Co. downgraded shares of Cisco Systems from an “overweight” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Thursday, July 16th. Citigroup raised their price target on Cisco Systems from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Wolfe Research began coverage on Cisco Systems in a research report on Friday, July 24th. They set an “outperform” rating and a $54.00 price objective for the company. Nomura Instinet increased their target price on Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Credit Suisse Group restated a “hold” rating and set a $41.00 price target on shares of Cisco Systems in a research note on Monday, July 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.33.
NASDAQ CSCO opened at $47.10 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $56.89. The business has a 50 day simple moving average of $46.07 and a two-hundred day simple moving average of $44.16. The stock has a market capitalization of $196.08 billion, a PE ratio of 15.69, a P/E/G ratio of 3.01 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the prior year, the firm earned $0.78 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Monday, July 6th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.44 annualized dividend and a yield of 3.06%. Cisco Systems’s dividend payout ratio (DPR) is currently 50.53%.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
Further Reading: Market Timing
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