First Affirmative Financial Network Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

First Affirmative Financial Network raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 15.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,084 shares of the network equipment provider’s stock after purchasing an additional 1,188 shares during the quarter. First Affirmative Financial Network’s holdings in Cisco Systems were worth $507,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CSCO. Norges Bank purchased a new position in shares of Cisco Systems in the 4th quarter worth approximately $2,492,430,000. BlackRock Inc. boosted its holdings in shares of Cisco Systems by 3.5% in the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after purchasing an additional 11,804,677 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Cisco Systems by 37.6% in the 4th quarter. California Public Employees Retirement System now owns 23,253,771 shares of the network equipment provider’s stock worth $1,473,591,000 after purchasing an additional 6,349,689 shares during the period. State Street Corp boosted its holdings in shares of Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after purchasing an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Cisco Systems by 53.7% in the 4th quarter. ProShare Advisors LLC now owns 8,406,104 shares of the network equipment provider’s stock worth $532,693,000 after purchasing an additional 2,936,764 shares during the period. Hedge funds and other institutional investors own 73.18% of the company’s stock.

Shares of NASDAQ:CSCO opened at $43.57 on Thursday. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29. The business’s fifty day simple moving average is $47.24 and its 200-day simple moving average is $53.77. The company has a market capitalization of $180.42 billion, a PE ratio of 15.29, a P/E/G ratio of 2.27 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the prior year, the firm posted $0.75 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.49%. Cisco Systems’s dividend payout ratio is presently 53.33%.

A number of equities research analysts recently issued reports on CSCO shares. The Goldman Sachs Group decreased their price target on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. Jefferies Financial Group decreased their price target on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, May 19th. Citigroup decreased their price target on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, May 19th. Oppenheimer decreased their price target on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Cisco Systems from $59.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

In related news, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the transaction, the senior vice president now directly owns 79,855 shares in the company, valued at approximately $3,441,750.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares in the company, valued at $28,532,556.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is owned by company insiders.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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