Bowling Portfolio Management LLC Has $1.10 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)



Bowling Portfolio Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 54.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,674 shares of the network equipment provider’s stock after selling 23,202 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Cisco Systems were worth $1,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Econ Financial Services Corp acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $29,000. Sandy Cove Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $33,000. Evolution Advisers Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $33,000. Regency Capital Management Inc. DE acquired a new stake in shares of Cisco Systems in the 4th quarter valued at about $34,000. Finally, Steward Financial Group LLC bought a new position in shares of Cisco Systems in the 4th quarter valued at about $36,000. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total transaction of $556,877.43. Following the completion of the transaction, the chief executive officer now directly owns 651,577 shares in the company, valued at $28,532,556.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $160,358.00. Following the transaction, the senior vice president now owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,326 shares of company stock valued at $1,103,159. 0.02% of the stock is owned by company insiders.

CSCO has been the subject of several analyst reports. Credit Suisse Group decreased their objective price on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. Oppenheimer decreased their objective price on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 19th. The Goldman Sachs Group decreased their objective price on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 20th. Wells Fargo & Company decreased their objective price on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, May 19th. Finally, Jefferies Financial Group decreased their objective price on Cisco Systems from $65.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, May 19th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.05.

Shares of CSCO stock opened at $43.57 on Thursday. The firm has a 50 day moving average price of $47.24 and a two-hundred day moving average price of $53.77. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $180.42 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $0.75 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a $0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.52 dividend on an annual basis and a dividend yield of 3.49%. Cisco Systems’ payout ratio is 53.33%.

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.

Further reading

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



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