University of Notre Dame DU Lac acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, HoldingsChannel reports. The fund acquired 149,416 shares of the network equipment provider’s stock, valued at approximately $5,025,000. Cisco Systems comprises approximately 1.4% of University of Notre Dame DU Lac’s investment portfolio, making the stock its 26th largest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Opes Advisors Inc boosted its stake in shares of Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after buying an additional 44 shares during the period. Leisure Capital Management boosted its stake 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 buying an additional 48 shares during the period. GM Advisory Group Inc. boosted its stake 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 buying an additional 61 shares during the period. Telemus Capital LLC boosted its stake in shares of Cisco Systems by 0.6% during the second quarter. Telemus Capital LLC now owns 12,235 shares of the network equipment provider’s stock worth $383,000 after buying an additional 72 shares during the period. Finally, Financial Advisory Service Inc. boosted its stake in shares of Cisco Systems by 0.6% during the second quarter. Financial Advisory Service Inc. now owns 13,689 shares of the network equipment provider’s stock worth $428,000 after buying an additional 79 shares during the period. Institutional investors own 75.06% of the company’s stock.
In other news, Director Roderick C. Mcgeary sold 15,230 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the transaction, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the transaction, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,440 shares of company stock valued at $4,086,782. Corporate insiders own 0.05% of the company’s stock.
CSCO has been the subject of several recent research reports. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 target price for the company in a research note on Monday, November 13th. Robert W. Baird reiterated a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a research note on Friday, November 10th. Cowen reiterated a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a research note on Friday, November 3rd. Oppenheimer reiterated a “buy” rating and set a $36.00 target price on shares of Cisco Systems in a research note on Tuesday, October 31st. Finally, UBS Group reissued a “buy” rating and set a $39.00 price target on shares of Cisco Systems in a report on Thursday, November 16th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.66.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $43.31 on Thursday. 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 $45.13. The firm has a market cap of $212,259.86, a P/E ratio of -135.34, a PEG ratio of 3.16 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. During the same period last year, the company posted $0.57 EPS. research analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
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Cisco Systems Company Profile
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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