Wealthstreet Investment Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,935 shares of the network equipment provider’s stock after selling 1,956 shares during the quarter. Wealthstreet Investment Advisors LLC’s holdings in Cisco Systems were worth $5,659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. OxFORD Asset Management LLP grew its holdings in shares of Cisco Systems by 23.6% in the third quarter. OxFORD Asset Management LLP now owns 106,913 shares of the network equipment provider’s stock valued at $3,592,000 after acquiring an additional 20,412 shares in the last quarter. San Francisco Sentry Investment Group CA grew its holdings in shares of Cisco Systems by 12.9% in the third quarter. San Francisco Sentry Investment Group CA now owns 44,332 shares of the network equipment provider’s stock valued at $1,491,000 after acquiring an additional 5,062 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Cisco Systems by 21.4% in the third quarter. Westside Investment Management Inc. now owns 28,326 shares of the network equipment provider’s stock valued at $956,000 after acquiring an additional 5,002 shares in the last quarter. Pinebridge Investments L.P. grew its holdings in Cisco Systems by 20.4% during the third quarter. Pinebridge Investments L.P. now owns 543,430 shares of the network equipment provider’s stock valued at $18,275,000 after purchasing an additional 92,020 shares during the period. Finally, Stifel Financial Corp grew its holdings in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after purchasing an additional 8,016,561 shares during the period. 73.76% of the stock is owned by hedge funds and other institutional investors.
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Shares of CSCO stock opened at $43.82 on Wednesday. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $46.37. The firm has a market capitalization of $212.98 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.09.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. During the same quarter last year, the business posted $0.60 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Friday, July 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
CSCO has been the subject of several research reports. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $46.32 price objective for the company in a report on Tuesday, April 3rd. BidaskClub lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 19th. Goldman Sachs Group raised Cisco Systems from a “buy” rating to a “conviction-buy” rating in a report on Friday, March 23rd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cisco Systems in a report on Monday, June 11th. Finally, Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $46.11.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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