Hudson Valley Investment Advisors Inc. ADV decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,714 shares of the network equipment provider’s stock after selling 2,911 shares during the period. Cisco Systems accounts for 1.3% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 24th largest holding. Hudson Valley Investment Advisors Inc. ADV’s holdings in Cisco Systems were worth $5,198,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. BLB&B Advisors LLC raised its position in Cisco Systems by 6.3% in the 4th quarter. BLB&B Advisors LLC now owns 238,148 shares of the network equipment provider’s stock valued at $9,121,000 after purchasing an additional 14,135 shares during the last quarter. Peachtree Investment Advisors Inc. raised its position in Cisco Systems by 3.1% in the 4th quarter. Peachtree Investment Advisors Inc. now owns 49,113 shares of the network equipment provider’s stock valued at $1,881,000 after purchasing an additional 1,475 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in Cisco Systems by 3.3% in the 4th quarter. Gofen & Glossberg LLC IL now owns 253,585 shares of the network equipment provider’s stock valued at $9,712,000 after purchasing an additional 7,990 shares during the last quarter. Pennsylvania Trust Co raised its position in Cisco Systems by 4.0% in the 4th quarter. Pennsylvania Trust Co now owns 398,410 shares of the network equipment provider’s stock valued at $15,259,000 after purchasing an additional 15,272 shares during the last quarter. Finally, Ayalon Holdings Ltd. purchased a new stake in Cisco Systems in the 4th quarter valued at $295,000. Institutional investors and hedge funds own 77.65% of the company’s stock.
Several research firms recently commented on CSCO. Piper Jaffray Companies reiterated an “overweight” rating and issued a $44.00 price target on shares of Cisco Systems in a research report on Wednesday, January 10th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 15th. Citigroup reiterated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Thursday, November 16th. They noted that the move was a valuation call. Nomura upped their price target on shares of Cisco Systems from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, November 16th. Finally, Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.04.
In other news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were 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 approximately $9,892,227.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction dated 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 owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The disclosure for this sale can be found here. Insiders sold a total of 116,566 shares of company stock valued at $4,636,938 in the last quarter. Insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $45.37 on Monday. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. The stock has a market cap of $218,570.80, a PE ratio of 20.44, a PEG ratio of 3.05 and a beta of 1.10. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $45.89.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same quarter last year, the firm posted $0.57 EPS. analysts forecast that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is currently -362.50%.
Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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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