Wealthcare Advisory Partners LLC Lowers Holdings in Cisco Systems, Inc. (CSCO)
Wealthcare Advisory Partners LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,908 shares of the network equipment provider’s stock after selling 2,492 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cisco Systems were worth $296,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. purchased a new stake in shares of Cisco Systems in the 1st quarter worth approximately $4,436,000. CapWealth Advisors LLC lifted its position in shares of Cisco Systems by 0.9% in the 1st quarter. CapWealth Advisors LLC now owns 393,823 shares of the network equipment provider’s stock worth $16,891,000 after purchasing an additional 3,411 shares during the period. Avalon Global Asset Management LLC purchased a new stake in shares of Cisco Systems in the 1st quarter worth approximately $4,075,000. Nuveen Asset Management LLC lifted its position in shares of Cisco Systems by 5.6% in the 1st quarter. Nuveen Asset Management LLC now owns 3,262,693 shares of the network equipment provider’s stock worth $139,937,000 after purchasing an additional 173,622 shares during the period. Finally, RMB Capital Management LLC lifted its position in shares of Cisco Systems by 13.7% in the 1st quarter. RMB Capital Management LLC now owns 60,805 shares of the network equipment provider’s stock worth $2,608,000 after purchasing an additional 7,337 shares during the period. 73.40% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Monday, July 9th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Credit Suisse Group upped their price target on shares of Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday. BidaskClub cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, BMO Capital Markets upped their price target on shares of Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.58.
Shares of Cisco Systems stock opened at $45.87 on Friday. 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 12-month low of $30.36 and a 12-month high of $46.37. The company has a market cap of $210.91 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 2.64 and a beta of 1.07.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same quarter in the prior year, the business posted $0.61 EPS. Cisco Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts forecast that Cisco Systems, Inc. will post 2.34 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, July 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s payout ratio is 61.40%.
About Cisco Systems
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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