Paradigm Asset Management Co. LLC Sells 2,100 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Paradigm Asset Management Co. LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,400 shares of the network equipment provider’s stock after selling 2,100 shares during the period. Cisco Systems makes up about 1.0% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 7th biggest position. Paradigm Asset Management Co. LLC’s holdings in Cisco Systems were worth $3,607,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after purchasing an additional 3,989,543 shares during the period. California Public Employees Retirement System raised its holdings in Cisco Systems by 25.0% in the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after purchasing an additional 3,753,165 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Cisco Systems in the third quarter worth $179,207,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO stock traded down $0.18 during trading hours on Monday, reaching $46.42. The stock had a trading volume of 11,941,000 shares, compared to its average volume of 19,358,314. The stock has a market capitalization of $187.02 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $48.40 and a 200 day simple moving average of $49.27. Cisco Systems, Inc. has a fifty-two week low of $46.20 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,457 shares of company stock worth $1,358,772. 0.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. Barclays increased their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, May 17th. Citigroup began coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average price target of $56.47.

Read Our Latest Analysis on Cisco Systems

Cisco Systems Company 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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