Haverford Trust Co. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 806,953 shares of the network equipment provider’s stock after buying an additional 35,368 shares during the quarter. Haverford Trust Co.’s holdings in Cisco Systems were worth $30,906,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in CSCO. Retirement Systems of Alabama grew its position in shares of Cisco Systems by 12.2% during the 3rd quarter. Retirement Systems of Alabama now owns 4,615,794 shares of the network equipment provider’s stock worth $155,229,000 after buying an additional 501,492 shares during the period. Jarislowsky Fraser Ltd grew its position in shares of Cisco Systems by 20.6% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 69,506 shares of the network equipment provider’s stock worth $2,337,000 after buying an additional 11,889 shares during the period. Milestone Group Inc. acquired a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $319,000. Anchor Capital Advisors LLC grew its position in shares of Cisco Systems by 29.9% during the 3rd quarter. Anchor Capital Advisors LLC now owns 36,110 shares of the network equipment provider’s stock worth $1,214,000 after buying an additional 8,310 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Cisco Systems by 0.7% during the 3rd quarter. New York State Common Retirement Fund now owns 14,103,794 shares of the network equipment provider’s stock worth $474,311,000 after buying an additional 95,829 shares during the period. 73.89% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 19th. Argus lifted their price target on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a research report on Friday, May 18th. JPMorgan Chase & Co. set a $58.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, May 17th. Finally, Credit Suisse Group set a $41.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a research report on Thursday, May 17th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average price target of $46.11.
In other news, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total transaction of $940,530.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the sale, the director now owns 74,479 shares in the company, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Cisco Systems opened at $43.57 on Friday, according to MarketBeat Ratings. The firm has a market cap of $210.43 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.37. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.42 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. During the same period in the previous year, the business posted $0.60 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.34 EPS for the current fiscal year.
Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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