W. E. Donoghue & Co. LLC Takes $2.47 Million Position in Cisco Systems, Inc. (CSCO)

W. E. Donoghue & Co. LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 57,488 shares of the network equipment provider’s stock, valued at approximately $2,466,000.

A number of other hedge funds have also recently modified their holdings of CSCO. Bank of New York Mellon Corp raised its stake in shares of Cisco Systems by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after buying an additional 13,927,416 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cisco Systems by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider’s stock valued at $2,131,581,000 after buying an additional 909,507 shares during the last quarter. Boston Partners raised its stake in shares of Cisco Systems by 11.2% during the 4th quarter. Boston Partners now owns 33,799,233 shares of the network equipment provider’s stock valued at $1,294,510,000 after buying an additional 3,397,848 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Cisco Systems by 0.6% during the 4th quarter. Lazard Asset Management LLC now owns 31,640,136 shares of the network equipment provider’s stock valued at $1,211,815,000 after buying an additional 187,711 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Cisco Systems by 6.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 29,601,283 shares of the network equipment provider’s stock valued at $1,133,729,000 after buying an additional 1,853,106 shares during the last quarter. Institutional investors own 73.80% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price objective for the company. in a research note on Wednesday, April 18th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Thursday, May 3rd. They set an “overweight” rating and a $57.00 price objective for the company. Credit Suisse Group assumed coverage on Cisco Systems in a research note on Wednesday, May 9th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, Citigroup lifted their price objective on Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 16th. Twelve research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $46.11.

In other news, EVP David Goeckeler sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the transaction, the executive vice president now directly owns 490,458 shares in the company, valued at approximately $21,222,117.66. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.05% of the company’s stock.

Shares of Cisco Systems stock opened at $43.03 on Friday. The company has a market cap of $206.86 billion, a PE ratio of 20.01, a P/E/G ratio of 2.89 and a beta of 1.09. Cisco Systems, Inc. has a 1-year low of $30.36 and a 1-year high of $46.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.42 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. During the same period in the previous year, the firm posted $0.60 EPS. analysts expect that Cisco Systems, Inc. will post 2.34 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, July 5th. Cisco Systems’s dividend payout ratio is currently 61.40%.

Cisco Systems Company Profile

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.

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

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