Kensington Investment Counsel LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Kensington Investment Counsel LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,031 shares of the network equipment provider’s stock after purchasing an additional 1,842 shares during the period. Kensington Investment Counsel LLC’s holdings in Cisco Systems were worth $1,061,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Cisco Systems in the fourth quarter worth $2,492,430,000. Vanguard Group Inc. boosted its holdings in Cisco Systems by 8.9% during the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after buying an additional 30,181,146 shares in the last quarter. BlackRock Inc. increased its stake 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 valued at $22,205,126,000 after purchasing an additional 11,804,677 shares in the last quarter. State Street Corp raised its stake in shares of Cisco Systems by 3.2% during 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 buying an additional 5,730,165 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CSCO shares. Morgan Stanley boosted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Wells Fargo & Company cut their price target on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. Citigroup increased their price objective on Cisco Systems from $40.00 to $44.00 and gave the stock a “sell” rating in a research report on Thursday, August 18th. Oppenheimer reduced their target price on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. Finally, The Goldman Sachs Group increased their price target on Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $55.59.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $45.77 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $189.53 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.25 and a beta of 0.96. The stock has a 50 day moving average of $45.01 and a two-hundred day moving average of $48.29. Cisco Systems, Inc. has a twelve month low of $40.82 and a twelve month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.10 billion during the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. Cisco Systems’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.32%. Cisco Systems’s payout ratio is 53.90%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the transaction, the senior vice president now directly owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total value of $26,161.70. Following the sale, the senior vice president now directly owns 79,855 shares in the company, valued at $3,441,750.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Maria Martinez sold 2,831 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $136,992.09. Following the completion of the transaction, the chief operating officer now owns 278,012 shares of the company’s stock, valued at approximately $13,453,000.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,119 shares of company stock worth $1,746,628. 0.02% of the stock is currently owned by insiders.

Cisco Systems Company Profile

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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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