Homrich & Berg Has $6.69 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Homrich & Berg lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 129,312 shares of the network equipment provider’s stock after purchasing an additional 8,783 shares during the period. Homrich & Berg’s holdings in Cisco Systems were worth $6,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Cisco Systems by 2.2% in the 1st quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock valued at $17,321,808,000 after buying an additional 7,282,145 shares during the period. Geode Capital Management LLC increased its holdings in Cisco Systems by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 69,440,752 shares of the network equipment provider’s stock valued at $3,581,548,000 after buying an additional 2,062,223 shares during the period. Ameriprise Financial Inc. increased its holdings in Cisco Systems by 1.3% in the 1st quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider’s stock valued at $2,811,048,000 after buying an additional 710,318 shares during the period. Norges Bank bought a new stake in Cisco Systems in the 4th quarter valued at $2,026,921,000. Finally, Nuveen Asset Management LLC increased its holdings in Cisco Systems by 35.7% in the 1st quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider’s stock valued at $2,319,591,000 after buying an additional 11,791,493 shares during the period. Institutional investors and hedge funds own 72.08% of the company’s stock.

In other Cisco Systems news, COO Maria Martinez sold 50,000 shares of Cisco Systems stock in a transaction dated Thursday, June 10th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prat Bhatt sold 3,829 shares of Cisco Systems stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $53.50, for a total value of $204,851.50. Following the completion of the transaction, the senior vice president now owns 106,222 shares in the company, valued at approximately $5,682,877. The disclosure for this sale can be found here. Insiders sold 76,864 shares of company stock worth $4,186,457 in the last 90 days. 0.02% of the stock is owned by company insiders.

Several brokerages have recently commented on CSCO. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $59.00 in a research note on Thursday, March 25th. Morgan Stanley boosted their target price on shares of Cisco Systems from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, April 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Cisco Systems in a research note on Tuesday, April 20th. They issued a “hold” rating and a $55.00 target price on the stock. Raymond James upped their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, May 14th. Finally, William Blair reiterated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, May 20th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $51.85.

Shares of NASDAQ CSCO traded up $0.39 during trading hours on Thursday, hitting $54.27. The company had a trading volume of 170,122 shares, compared to its average volume of 14,389,840. The stock has a market capitalization of $228.71 billion, a PE ratio of 22.39, a P/E/G ratio of 3.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.53 and a quick ratio of 1.46. Cisco Systems, Inc. has a 1-year low of $35.28 and a 1-year high of $55.35. The firm’s 50 day moving average price is $53.30.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Tuesday, July 6th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s payout ratio is currently 50.68%.

About Cisco Systems

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

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