Platinum Investment Management Ltd. Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Platinum Investment Management Ltd. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 78.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,790 shares of the network equipment provider’s stock after selling 6,645 shares during the period. Platinum Investment Management Ltd.’s holdings in Cisco Systems were worth $90,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CSCO. Sompo Asset Management Co. Ltd. grew its position in Cisco Systems by 65.4% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 61,030 shares of the network equipment provider’s stock valued at $3,083,000 after acquiring an additional 24,140 shares in the last quarter. Veritas Investment Partners UK Ltd. bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $253,000. Westwood Holdings Group Inc. raised its position in Cisco Systems by 8.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 193,873 shares of the network equipment provider’s stock worth $9,794,000 after acquiring an additional 14,479 shares in the last quarter. Waterloo Capital L.P. bought a new stake in Cisco Systems in the fourth quarter worth about $554,000. Finally, Harvest Investment Advisors LLC raised its position in Cisco Systems by 4.9% in the fourth quarter. Harvest Investment Advisors LLC now owns 28,510 shares of the network equipment provider’s stock worth $1,440,000 after acquiring an additional 1,335 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock traded down $0.39 during trading hours on Friday, reaching $45.84. 15,734,605 shares of the company’s stock were exchanged, compared to its average volume of 21,696,226. Cisco Systems, Inc. has a fifty-two week low of $45.64 and a fifty-two week high of $58.19. The stock has a market capitalization of $184.68 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.68 and a beta of 0.85. The business has a fifty day moving average price of $47.74 and a 200-day moving average price of $48.98. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given 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 is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 16th. Citigroup started coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. UBS Group lifted their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.47.

Get Our Latest Analysis on CSCO

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,166 shares of company stock worth $2,727,647. Company insiders own 0.02% of the company’s stock.

Cisco Systems 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.

See Also

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

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