Steel Peak Wealth Management LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 161,266 shares of the network equipment provider’s stock, valued at approximately $7,734,000. Cisco Systems comprises about 1.1% of Steel Peak Wealth Management LLC’s holdings, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Trust Advisors LP lifted its holdings in Cisco Systems by 155.6% during the third quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after purchasing an additional 10,621,798 shares in the last quarter. Parnassus Investments CA purchased a new position in Cisco Systems during the third quarter valued at approximately $444,882,000. M&G Investment Management Ltd. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $185,636,000. Massachusetts Financial Services Co. MA lifted its holdings in Cisco Systems by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock valued at $1,066,724,000 after purchasing an additional 2,496,113 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Cisco Systems by 13.2% during the third quarter. California Public Employees Retirement System now owns 15,745,642 shares of the network equipment provider’s stock valued at $777,992,000 after purchasing an additional 1,836,457 shares in the last quarter. 72.57% of the stock is currently owned by institutional investors.

In related news, CEO Charles Robbins sold 12,597 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $564,471.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Prat Bhatt sold 39,343 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the completion of the sale, the chief accounting officer now owns 137,634 shares in the company, valued at approximately $6,177,013.92. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock worth $17,474,321 in the last 90 days. 0.03% of the stock is currently owned by company insiders.

CSCO has been the topic of several analyst reports. Piper Jaffray Companies downgraded shares of Cisco Systems from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $55.00 to $51.00 in a report on Monday, November 11th. ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. KeyCorp lifted their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Goldman Sachs Group reissued a “hold” rating and issued a $48.00 target price on shares of Cisco Systems in a report on Thursday. Finally, Barclays raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average price target of $54.41.

Shares of CSCO stock traded down $0.35 during mid-day trading on Friday, hitting $46.97. The company had a trading volume of 21,213,339 shares, compared to its average volume of 19,108,439. The stock’s 50 day moving average price is $47.96 and its 200-day moving average price is $47.93. Cisco Systems, Inc. has a 52-week low of $43.40 and a 52-week high of $58.26. The company has a market capitalization of $207.32 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.98 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. Cisco Systems’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. Cisco Systems’s payout ratio is currently 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Recommended Story: P/E Growth (PEG)

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.