Prudential PLC Buys 23,364 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Prudential PLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 389,725 shares of the network equipment provider’s stock after acquiring an additional 23,364 shares during the period. Prudential PLC’s holdings in Cisco Systems were worth $19,689,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. NCM Capital Management LLC boosted its stake in Cisco Systems by 33.2% in the 4th quarter. NCM Capital Management LLC now owns 9,039 shares of the network equipment provider’s stock worth $457,000 after purchasing an additional 2,251 shares in the last quarter. CenterBook Partners LP bought a new position in Cisco Systems in the 4th quarter worth about $1,885,000. Frank Rimerman Advisors LLC bought a new position in Cisco Systems in the 4th quarter worth about $44,000. Angeles Investment Advisors LLC boosted its stake in Cisco Systems by 3.3% in the 4th quarter. Angeles Investment Advisors LLC now owns 12,075 shares of the network equipment provider’s stock worth $610,000 after purchasing an additional 389 shares in the last quarter. Finally, Vinva Investment Management Ltd boosted its stake in Cisco Systems by 1.8% in the 4th quarter. Vinva Investment Management Ltd now owns 148,394 shares of the network equipment provider’s stock worth $7,491,000 after purchasing an additional 2,646 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.8 %

CSCO stock traded down $0.39 during trading on Friday, reaching $45.84. 15,734,605 shares of the company traded hands, compared to its average volume of 21,696,226. Cisco Systems, Inc. has a 12 month low of $45.64 and a 12 month high of $58.19. The business has a 50 day simple moving average of $47.74 and a 200 day simple moving average of $48.98. The company has a market capitalization of $184.68 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share 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 business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSCO. Citigroup began coverage on Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price for the company. Wells Fargo & Company upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. UBS Group upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Finally, Morgan Stanley began coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

View Our Latest Stock Report on Cisco Systems

Insider Buying and Selling

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Insiders sold 57,166 shares of company stock valued at $2,727,647 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Company Profile

(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.

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

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