Peterson Wealth Services Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Peterson Wealth Services grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,994 shares of the network equipment provider’s stock after buying an additional 4,754 shares during the period. Peterson Wealth Services’ holdings in Cisco Systems were worth $1,515,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. State Street Corp boosted its holdings in shares of Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after purchasing an additional 4,061,022 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. FMR LLC boosted its holdings in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock valued at $3,069,815,000 after acquiring an additional 1,790,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 acquiring an additional 3,087,294 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on 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 in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research analyst reports. Barclays lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Melius Research reiterated a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.03.

Check Out Our Latest Report on Cisco Systems

Cisco Systems Stock Performance

CSCO stock traded up $0.46 on Thursday, reaching $48.25. The company’s stock had a trading volume of 3,171,469 shares, compared to its average volume of 19,355,594. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The company has a market capitalization of $195.37 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 2.75 and a beta of 0.87. The firm has a fifty day moving average of $49.14 and a two-hundred day moving average of $50.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

About Cisco Systems

(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.

Further Reading

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

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