Autus Asset Management LLC Sells 303 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Autus Asset Management LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,595 shares of the network equipment provider’s stock after selling 303 shares during the period. Autus Asset Management LLC’s holdings in Cisco Systems were worth $367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $2,492,430,000. BlackRock Inc. grew its holdings in Cisco Systems by 3.5% during the fourth quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock valued at $22,205,126,000 after purchasing an additional 11,804,677 shares during the period. California Public Employees Retirement System increased its position in Cisco Systems by 37.6% in the fourth quarter. California Public Employees Retirement System now owns 23,253,771 shares of the network equipment provider’s stock worth $1,473,591,000 after buying an additional 6,349,689 shares during the last quarter. State Street Corp raised its stake in shares of 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 valued at $11,794,751,000 after buying an additional 5,730,165 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Cisco Systems by 53.7% during the 4th quarter. ProShare Advisors LLC now owns 8,406,104 shares of the network equipment provider’s stock valued at $532,693,000 after buying an additional 2,936,764 shares during the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.

NASDAQ:CSCO opened at $43.57 on Thursday. The company has a market cap of $180.42 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 1 year low of $41.02 and a 1 year high of $64.29. The stock’s 50 day simple moving average is $47.24 and its two-hundred day simple moving average is $53.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.49 and a quick ratio of 1.40.

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

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

In other news, SVP Prat Bhatt sold 3,700 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total value of $160,358.00. Following the sale, the senior vice president now owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total transaction of $556,877.43. Following the completion of the sale, the chief executive officer now owns 651,577 shares of the company’s stock, valued at approximately $28,532,556.83. The disclosure for this sale can be found here. Insiders have sold a total of 25,326 shares of company stock worth $1,103,159 in the last 90 days. 0.02% of the stock is currently owned by insiders.

CSCO has been the subject of several analyst reports. UBS Group cut their price objective on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, May 19th. Citigroup dropped their price target 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. Barclays dropped their target price on shares of Cisco Systems from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Oppenheimer decreased their price target on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Finally, StockNews.com started coverage on Cisco Systems in a report on Thursday, March 31st. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.05.

Cisco Systems Company 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.

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

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