EP Wealth Advisors LLC Acquires 29,813 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

EP Wealth Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,121,926 shares of the network equipment provider’s stock after purchasing an additional 29,813 shares during the quarter. EP Wealth Advisors LLC’s holdings in Cisco Systems were worth $56,680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after buying an additional 6,345,954 shares during the last quarter. FMR LLC grew its position in shares of Cisco Systems by 3.2% during the 3rd 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 period. Northern Trust Corp grew its position in shares of Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock valued at $2,717,537,000 after acquiring an additional 1,847,682 shares during the period. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $2,528,939,000. Finally, Invesco Ltd. grew its position in shares of Cisco Systems by 3.7% during the 3rd quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock valued at $1,802,909,000 after acquiring an additional 1,181,327 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CSCO. Oppenheimer increased their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $60.00 in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.47.

Insider Activity

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.16 on Friday, hitting $45.68. The stock had a trading volume of 15,274,176 shares, compared to its average volume of 19,183,470. Cisco Systems, Inc. has a 52-week low of $44.97 and a 52-week high of $58.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The company has a market capitalization of $184.04 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.85. The firm has a 50-day moving average of $47.41 and a 200-day moving average of $48.89.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for 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%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.88 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Cisco Systems Profile

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.