Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Ropes Wealth Advisors LLC

Ropes Wealth Advisors LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 17.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,842 shares of the network equipment provider’s stock after selling 16,347 shares during the period. Ropes Wealth Advisors LLC’s holdings in Cisco Systems were worth $4,743,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in Cisco Systems by 5.8% in the third quarter. Wellington Management Group LLP now owns 93,121,610 shares of the network equipment provider’s stock worth $5,068,609,000 after purchasing an additional 5,079,220 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cisco Systems by 2.6% in the third quarter. Geode Capital Management LLC now owns 71,756,668 shares of the network equipment provider’s stock worth $3,895,601,000 after acquiring an additional 1,821,159 shares during the last quarter. Northern Trust Corp lifted its holdings 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 acquiring an additional 183,779 shares during the last quarter. Invesco Ltd. lifted its holdings in Cisco Systems by 30.1% in the third quarter. Invesco Ltd. now owns 33,964,920 shares of the network equipment provider’s stock worth $1,848,711,000 after acquiring an additional 7,850,030 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in Cisco Systems by 1.3% in the third quarter. UBS Asset Management Americas Inc. now owns 26,672,246 shares of the network equipment provider’s stock worth $1,451,770,000 after acquiring an additional 341,269 shares during the last quarter. Institutional investors and hedge funds own 73.18% of the company’s stock.

Cisco Systems stock traded up $1.27 during mid-day trading on Friday, hitting $49.56. The company’s stock had a trading volume of 18,948,650 shares, compared to its average volume of 19,540,174. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $205.88 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.42 and a beta of 0.99. Cisco Systems, Inc. has a twelve month low of $47.47 and a twelve month high of $64.29. The stock’s fifty day moving average price is $52.97 and its two-hundred day moving average price is $55.98.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The firm had revenue of $12.72 billion for the quarter, compared to analyst estimates of $12.67 billion. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.09 earnings per share for the current year.

Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 16th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Shareholders of record on Wednesday, April 6th were given a $0.38 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, April 5th. This represents a $1.52 annualized dividend and a yield of 3.07%. Cisco Systems’s payout ratio is 54.29%.

In other Cisco Systems news, COO Maria Martinez sold 992 shares of Cisco Systems stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $55.24, for a total transaction of $54,798.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 3,623 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $56.40, for a total transaction of $204,337.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on CSCO shares. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, January 24th. Loop Capital started coverage on shares of Cisco Systems in a report on Monday, February 14th. They issued a “buy” rating and a $71.00 target price on the stock. Barclays raised their target price on shares of Cisco Systems from $61.00 to $68.00 in a report on Thursday, February 17th. StockNews.com began coverage on shares of Cisco Systems in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company cut Cisco Systems from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $70.00 to $65.00 in a report on Thursday, March 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.44.

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.

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

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