Cisco Systems, Inc. (CSCO) Position Boosted by Bartlett & Co. LLC

Bartlett & Co. LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 49,460 shares of the network equipment provider’s stock after buying an additional 4,073 shares during the period. Bartlett & Co. LLC’s holdings in Cisco Systems were worth $2,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. BlackRock Inc. raised its stake in Cisco Systems by 1.1% during the first quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock worth $14,539,904,000 after purchasing an additional 3,630,488 shares during the period. Boston Partners raised its stake in Cisco Systems by 0.4% during the first quarter. Boston Partners now owns 33,948,505 shares of the network equipment provider’s stock worth $1,456,051,000 after purchasing an additional 149,272 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Cisco Systems by 3.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 24,477,618 shares of the network equipment provider’s stock worth $1,049,845,000 after purchasing an additional 816,698 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Cisco Systems by 3.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 18,289,036 shares of the network equipment provider’s stock worth $784,417,000 after purchasing an additional 526,547 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Cisco Systems by 3.8% during the second quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock worth $773,243,000 after purchasing an additional 662,706 shares during the period. 71.44% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 price target on shares of Cisco Systems in a research note on Thursday, August 16th. Finally, Credit Suisse Group increased their price target on shares of Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $48.76.

In related news, SVP Irving Tan sold 68,308 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the completion of the sale, the senior vice president now directly owns 150,763 shares of the company’s stock, valued at approximately $7,143,150.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 31,842 shares of the firm’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 450,620 shares of company stock valued at $21,322,282. Company insiders own 0.05% of the company’s stock.

Cisco Systems stock opened at $45.71 on Friday. Cisco Systems, Inc. has a 52-week low of $33.32 and a 52-week high of $49.47. The firm has a market capitalization of $234.37 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.07. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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