Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.8% in the 1st quarter, Holdings Channel reports. The firm owned 129,225 shares of the network equipment provider’s stock after selling 49,750 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Cisco Systems were worth $6,450,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Cisco Systems by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock worth $3,417,011,000 after purchasing an additional 2,386,508 shares during the period. Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $2,528,939,000. Wellington Management Group LLP boosted its position in shares of Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after purchasing an additional 2,723,260 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. Oppenheimer increased their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Up 1.3 %

NASDAQ:CSCO traded up $0.62 during midday trading on Friday, hitting $47.38. 20,936,110 shares of the company were exchanged, compared to its average volume of 18,369,060. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The company has a market capitalization of $190.89 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.71 and a beta of 0.85. The company has a fifty day simple moving average of $46.89 and a 200 day simple moving average of $48.57.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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.