DnB Asset Management AS increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,784,277 shares of the network equipment provider’s stock after purchasing an additional 566,523 shares during the period. DnB Asset Management AS’s holdings in Cisco Systems were worth $68,338,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Opes Advisors Inc lifted its position in Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after buying an additional 44 shares during the last quarter. Leisure Capital Management lifted its position in shares of Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after purchasing an additional 48 shares in the last quarter. GM Advisory Group Inc. lifted its position in shares of Cisco Systems by 0.3% during the second quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock worth $612,000 after purchasing an additional 61 shares in the last quarter. MEMBERS Trust Co lifted its position in shares of Cisco Systems by 0.7% during the second quarter. MEMBERS Trust Co now owns 12,580 shares of the network equipment provider’s stock worth $394,000 after purchasing an additional 90 shares in the last quarter. Finally, Heritage Trust Co lifted its position in shares of Cisco Systems by 1.2% during the second quarter. Heritage Trust Co now owns 8,381 shares of the network equipment provider’s stock worth $262,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.
Several equities analysts have commented on the stock. Wells Fargo & Co reiterated an “outperform” rating and issued a $42.00 price target on shares of Cisco Systems in a research note on Tuesday, November 14th. Royal Bank of Canada restated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research report on Wednesday, November 15th. Barclays raised their target price on shares of Cisco Systems from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, November 16th. Citigroup reaffirmed a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Finally, Jefferies Group raised their target price on Cisco Systems to $40.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average price target of $44.04.
In other news, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the transaction, the senior vice president now owns 257,476 shares in the company, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,566 shares of company stock valued at $4,636,938. 0.05% of the stock is currently owned by insiders.
Shares of Cisco Systems, Inc. (CSCO) traded up $0.10 during mid-day trading on Wednesday, reaching $45.26. The company’s stock had a trading volume of 16,495,278 shares, compared to its average volume of 28,663,879. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.16. The firm has a market cap of $218,140.00, a price-to-earnings ratio of -141.33, a P/E/G ratio of 3.06 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio is presently -362.50%.
Cisco Systems announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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).
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