First Quadrant L P CA lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 55.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,760 shares of the network equipment provider’s stock after selling 50,684 shares during the quarter. First Quadrant L P CA’s holdings in Cisco Systems were worth $1,766,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CSCO. Holderness Investments Co. lifted its stake in shares of Cisco Systems by 2.3% in the third quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock worth $3,343,000 after buying an additional 1,576 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in shares of Cisco Systems by 12.1% in the third quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock worth $6,950,000 after buying an additional 15,389 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Cisco Systems by 35.6% in the third quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock worth $247,000 after buying an additional 1,336 shares in the last quarter. Oakwood Capital Management LLC CA lifted its stake in shares of Cisco Systems by 7.1% in the third quarter. Oakwood Capital Management LLC CA now owns 166,375 shares of the network equipment provider’s stock worth $8,094,000 after buying an additional 11,043 shares in the last quarter. Finally, Torray LLC lifted its stake in shares of Cisco Systems by 1.0% in the third quarter. Torray LLC now owns 531,055 shares of the network equipment provider’s stock worth $25,836,000 after buying an additional 5,262 shares in the last quarter. Institutional investors own 69.14% of the company’s stock.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the completion of the sale, the chief financial officer now directly owns 420,696 shares in the company, valued at $21,749,983.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Goeckeler sold 30,000 shares of Cisco Systems stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the sale, the executive vice president now owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,000 shares of company stock valued at $5,926,000. Company insiders own 0.03% of the company’s stock.
Several equities analysts have recently weighed in on CSCO shares. Citigroup raised their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Credit Suisse Group raised their price target on shares of Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Goldman Sachs Group downgraded shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and raised their price target for the stock from $58.00 to $62.00 in a research note on Tuesday. Bank of America reissued a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a research note on Thursday, February 14th. Finally, KeyCorp raised their price target on shares of Cisco Systems from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.09.
Cisco Systems stock opened at $56.40 on Friday. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $57.53. The stock has a market cap of $271.71 billion, a P/E ratio of 24.10, a PEG ratio of 2.94 and a beta of 1.22. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The firm had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same period last year, the business earned $0.63 earnings per share. Cisco Systems’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.75 earnings per share for the current year.
Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
Cisco Systems Company 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.
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