Panagora Asset Management Inc. Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Panagora Asset Management Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 945,188 shares of the network equipment provider’s stock after selling 128,035 shares during the quarter. Panagora Asset Management Inc.’s holdings in Cisco Systems were worth $48,876,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Summitry LLC raised its stake in shares of Cisco Systems by 8.7% during the first quarter. Summitry LLC now owns 72,875 shares of the network equipment provider’s stock worth $3,768,000 after acquiring an additional 5,860 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Cisco Systems by 37.1% in the first quarter. Ritholtz Wealth Management now owns 15,512 shares of the network equipment provider’s stock worth $802,000 after purchasing an additional 4,200 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Cisco Systems in the first quarter worth approximately $5,105,000. Norinchukin Bank The grew its holdings in shares of Cisco Systems by 3.8% in the first quarter. Norinchukin Bank The now owns 414,151 shares of the network equipment provider’s stock worth $21,416,000 after purchasing an additional 15,115 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. bought a new position in shares of Cisco Systems in the first quarter worth approximately $202,000. 72.16% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Cisco Systems in a report on Tuesday, April 20th. They issued a “hold” rating and a $55.00 target price on the stock. Robert W. Baird restated a “hold” rating on shares of Cisco Systems in a report on Tuesday, May 11th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a report on Thursday, March 11th. Raymond James lifted their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, May 14th. Finally, DZ Bank reiterated a “hold” rating and issued a $51.00 price target on shares of Cisco Systems in a report on Thursday, May 27th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.85.

In other Cisco Systems news, SVP Prat Bhatt sold 3,829 shares of the business’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $53.50, for a total value of $204,851.50. Following the completion of the transaction, the senior vice president now owns 106,222 shares of the company’s stock, valued at approximately $5,682,877. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Michele Burns sold 13,982 shares of the business’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $51.55, for a total value of $720,772.10. Following the sale, the director now owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The disclosure for this sale can be found here. In the last three months, insiders sold 37,395 shares of company stock valued at $1,970,410. 0.02% of the stock is owned by insiders.

Shares of CSCO traded down $0.11 during trading hours on Friday, hitting $54.92. The company had a trading volume of 183,534 shares, compared to its average volume of 21,115,367. The company’s fifty day moving average is $52.43. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $231.44 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.91. Cisco Systems, Inc. has a 52-week low of $35.28 and a 52-week high of $55.08.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. Cisco Systems’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Tuesday, July 6th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s dividend payout ratio (DPR) is 50.68%.

Cisco Systems Company Profile

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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