MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $36.01 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,809 shares of the network equipment provider’s stock after selling 87,867 shares during the quarter. Cisco Systems makes up about 2.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 11th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Cisco Systems were worth $36,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CSCO. BlackRock Inc. boosted its stake in Cisco Systems by 3.5% in the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after purchasing an additional 11,804,677 shares in the last quarter. State Street Corp boosted its stake in Cisco Systems by 3.2% in the fourth quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after purchasing an additional 5,730,165 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $4,623,101,000 after purchasing an additional 1,380,066 shares in the last quarter. Northern Trust Corp boosted its stake in Cisco Systems by 0.3% in the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $3,496,355,000 after purchasing an additional 183,779 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock worth $3,185,537,000 after purchasing an additional 2,336,314 shares in the last quarter. 73.18% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, May 19th. Evercore ISI dropped their target price on Cisco Systems from $62.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. JPMorgan Chase & Co. dropped their target price on Cisco Systems from $67.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Wells Fargo & Company dropped their target price on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, May 19th. Finally, UBS Group dropped their target price on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.05.

CSCO stock opened at $43.57 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40. The stock has a market capitalization of $180.42 billion, a P/E ratio of 15.29, a P/E/G ratio of 2.27 and a beta of 0.99. The business has a 50-day moving average of $47.24 and a 200-day moving average of $53.77. Cisco Systems, Inc. has a fifty-two week low of $41.02 and a fifty-two week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be given a dividend of $0.38 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.49%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.33%.

In other news, COO Maria Martinez sold 3,628 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $157,237.52. Following the completion of the sale, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at $12,798,518.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prat Bhatt sold 607 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total value of $26,161.70. Following the completion of the sale, the senior vice president now directly owns 79,855 shares of the company’s stock, valued at $3,441,750.50. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock valued at $1,103,159 over the last three months. Insiders own 0.02% of the company’s stock.

Cisco Systems Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

See Also

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

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