Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 271.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 121,906 shares of the network equipment provider’s stock after purchasing an additional 89,083 shares during the period. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $6,304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. CFO4Life Group LLC boosted its stake in shares of Cisco Systems by 0.7% during the 1st quarter. CFO4Life Group LLC now owns 29,789 shares of the network equipment provider’s stock worth $1,540,000 after acquiring an additional 196 shares in the last quarter. Lake Street Financial LLC boosted its stake in shares of Cisco Systems by 0.9% during the 1st quarter. Lake Street Financial LLC now owns 23,885 shares of the network equipment provider’s stock worth $1,235,000 after acquiring an additional 220 shares in the last quarter. Polaris Wealth Advisory Group LLC boosted its stake in shares of Cisco Systems by 2.6% during the 1st quarter. Polaris Wealth Advisory Group LLC now owns 8,533 shares of the network equipment provider’s stock worth $445,000 after acquiring an additional 220 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Cisco Systems by 1.9% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 12,109 shares of the network equipment provider’s stock worth $626,000 after acquiring an additional 220 shares in the last quarter. Finally, Sara Bay Financial boosted its stake in shares of Cisco Systems by 1.3% during the 1st quarter. Sara Bay Financial now owns 17,326 shares of the network equipment provider’s stock worth $896,000 after acquiring an additional 221 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors.

In other Cisco Systems news, CEO Charles Robbins sold 8,497 shares of the stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $46.20, for a total transaction of $392,561.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Prat Bhatt sold 6,273 shares of the stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $296,148.33. Following the transaction, the chief accounting officer now directly owns 119,282 shares in the company, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Insiders have sold 37,776 shares of company stock worth $1,832,205 in the last three months. Insiders own 0.02% of the company’s stock.

CSCO has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $50.00 to $59.00 in a research note on Wednesday, March 31st. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a research note on Thursday, March 11th. Wolfe Research raised shares of Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Thursday, April 22nd. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, February 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Cisco Systems in a research note on Monday, April 26th. They issued a “hold” rating and a $55.00 target price on the stock. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.71.

CSCO traded down $0.64 on Tuesday, hitting $50.53. 557,498 shares of the company were exchanged, compared to its average volume of 21,005,725. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $53.18. The firm has a market capitalization of $213.33 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 1.59. The business’s fifty day moving average is $51.33 and its 200 day moving average is $45.58.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th were paid a dividend of $0.37 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, April 5th. This represents a $1.48 annualized dividend and a dividend yield of 2.93%. Cisco Systems’s dividend payout ratio is presently 50.68%.

Cisco Systems 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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