Newbridge Financial Services Group Inc. Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Newbridge Financial Services Group Inc. lifted its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 40.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,259 shares of the network equipment provider’s stock after purchasing an additional 1,505 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Cisco Systems were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. raised its stake in Cisco Systems by 9.5% in the fourth 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 purchasing an additional 6,345,954 shares in the last quarter. FMR LLC raised its stake in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after purchasing an additional 1,790,717 shares in the last quarter. Northern Trust Corp raised its stake 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 purchasing an additional 1,847,682 shares in the last quarter. Norges Bank purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $2,528,939,000. Finally, Wellington Management Group LLP raised its stake in Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,457 shares of company stock valued at $1,358,772. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Oppenheimer lifted their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. UBS Group lifted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. started 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.47.

Check Out Our Latest Analysis on CSCO

Cisco Systems Stock Down 0.4 %

Shares of CSCO traded down $0.19 during trading hours on Tuesday, hitting $46.94. The company had a trading volume of 25,164,659 shares, compared to its average volume of 19,433,117. The firm has a fifty day moving average price of $48.57 and a 200-day moving average price of $49.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock has a market capitalization of $190.07 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.20 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $46.20 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

About Cisco Systems

(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.

Further Reading

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

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