Tandem Investment Advisors Inc. Takes Position in Cisco Systems, Inc. (CSCO)

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Tandem Investment Advisors Inc. bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, Holdings Channel reports. The fund bought 7,508 shares of the network equipment provider’s stock, valued at approximately $325,000.

A number of other large investors have also modified their holdings of CSCO. Bank of New York Mellon Corp raised its position in Cisco Systems by 193,168.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after buying an additional 104,687,754 shares during the last quarter. Fisher Asset Management LLC raised its position in Cisco Systems by 36.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after buying an additional 7,238,755 shares during the last quarter. Man Group plc raised its position in Cisco Systems by 412.1% in the 3rd quarter. Man Group plc now owns 3,063,334 shares of the network equipment provider’s stock worth $149,032,000 after buying an additional 2,465,161 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Cisco Systems by 4,016.5% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,901,239 shares of the network equipment provider’s stock worth $3,057,143,000 after buying an additional 1,855,053 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Cisco Systems by 60.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 4,417,568 shares of the network equipment provider’s stock worth $214,915,000 after buying an additional 1,670,040 shares during the last quarter. 69.17% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. Goldman Sachs Group lowered Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $62.00 in a research report on Tuesday, April 16th. Wells Fargo & Co restated an “outperform” rating and set a $57.00 price target (up from $52.00) on shares of Cisco Systems in a research note on Wednesday, February 13th. Argus restated a “buy” rating and set a $55.00 price target on shares of Cisco Systems in a research note on Tuesday, January 15th. Credit Suisse Group boosted their price target on Cisco Systems from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Finally, MKM Partners boosted their price target on Cisco Systems to $54.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $54.09.

Cisco Systems stock opened at $56.33 on Friday. The stock has a market cap of $273.11 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.95 and a beta of 1.22. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $57.53. 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 announced its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Investors of record on Friday, April 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase 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 2.49%. Cisco Systems’s payout ratio is 59.83%.

Cisco Systems declared that its Board of Directors has initiated a share buyback 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 purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In related news, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total transaction of $744,900.00. Following the completion of the transaction, the director now directly owns 102,898 shares in the company, valued at approximately $5,109,914.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total value of $3,619,000.00. Following the transaction, the chief financial officer now owns 420,696 shares of the company’s stock, valued at $21,749,983.20. 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. 0.03% of the stock is currently owned by corporate insiders.

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

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