MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 87,867 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 637,809 shares of the network equipment provider’s stock after selling 87,867 shares during the period. Cisco Systems comprises approximately 2.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 11th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Cisco Systems were worth $36,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Executive Wealth Management LLC boosted its stake in shares of Cisco Systems by 21.0% in the 1st quarter. Executive Wealth Management LLC now owns 107,334 shares of the network equipment provider’s stock worth $5,984,000 after buying an additional 18,607 shares during the last quarter. Abacus Planning Group Inc. lifted its stake in Cisco Systems by 1.9% in the first quarter. Abacus Planning Group Inc. now owns 16,465 shares of the network equipment provider’s stock valued at $918,000 after purchasing an additional 311 shares during the last quarter. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Cisco Systems by 47.8% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 454,280 shares of the network equipment provider’s stock valued at $25,330,000 after purchasing an additional 146,925 shares during the last quarter. Griffin Asset Management Inc. lifted its stake in Cisco Systems by 8.2% in the first quarter. Griffin Asset Management Inc. now owns 6,841 shares of the network equipment provider’s stock valued at $381,000 after purchasing an additional 520 shares during the last quarter. Finally, First Affirmative Financial Network lifted its stake in Cisco Systems by 15.0% in the first quarter. First Affirmative Financial Network now owns 9,084 shares of the network equipment provider’s stock valued at $507,000 after purchasing an additional 1,188 shares during the last quarter. 73.18% of the stock is owned by hedge funds and other institutional investors.

Shares of CSCO opened at $43.57 on Thursday. The company has a market capitalization of $180.42 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.99. 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 firm has a 50 day moving average of $47.24 and a 200 day moving average of $53.77. Cisco Systems, Inc. has a twelve month low of $41.02 and a twelve month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $0.75 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

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

In related news, CEO Charles Robbins sold 12,717 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at approximately $28,532,556.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Maria Martinez sold 4,674 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.33, for a total transaction of $202,524.42. Following the completion of the sale, the chief operating officer now directly owns 286,033 shares in the company, valued at $12,393,809.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on CSCO shares. Barclays lowered their target price on shares of Cisco Systems from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Citigroup lowered their target price on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, May 19th. Credit Suisse Group lowered their target price on shares of Cisco Systems from $72.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Wells Fargo & Company decreased their price target on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Finally, Bank of America decreased their price target on shares of Cisco Systems from $62.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.05.

Cisco Systems Company 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.

See Also

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

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