Artisan Partners Limited Partnership Has $374.69 Million Position in Cisco Systems, Inc. (CSCO)

Artisan Partners Limited Partnership cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,085,461 shares of the network equipment provider’s stock after selling 1,010,802 shares during the period. Artisan Partners Limited Partnership owned about 0.22% of Cisco Systems worth $374,689,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CSCO. L & S Advisors Inc purchased a new position in Cisco Systems during the fourth quarter valued at $1,982,000. Fortis Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $419,000. Menora Mivtachim Holdings LTD. increased its position in shares of Cisco Systems by 0.5% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 2,026,340 shares of the network equipment provider’s stock worth $61,236,000 after buying an additional 10,000 shares during the last quarter. Princeton Portfolio Strategies Group LLC increased its position in shares of Cisco Systems by 16.4% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 52,959 shares of the network equipment provider’s stock worth $1,600,000 after buying an additional 7,448 shares during the last quarter. Finally, Congress Asset Management Co. MA bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $4,280,000. 75.28% of the stock is currently owned by institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 30.37 on Friday. The firm’s 50-day moving average price is $31.48 and its 200 day moving average price is $32.55. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 17.04% and a net margin of 20.02%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Analysts predict that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is presently 60.73%.

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A number of analysts have issued reports on the stock. Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Monday, June 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research note on Wednesday, April 26th. Fourteen research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.46.

In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is currently owned by company insiders.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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