Steward Partners Investment Advisory LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.3% in the fourth quarter, Holdings Channel reports. The fund owned 138,626 shares of the network equipment provider’s stock after purchasing an additional 16,276 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Cisco Systems were worth $5,309,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Ameriprise Financial Inc. grew its holdings in shares of Cisco Systems by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Stifel Financial Corp boosted its holdings in Cisco Systems by 6,109.5% during the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after acquiring an additional 8,016,561 shares during the period. Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the period. American Century Companies Inc. boosted its holdings in Cisco Systems by 54.2% during the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after acquiring an additional 5,049,326 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Cisco Systems by 51.1% during the 2nd quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after acquiring an additional 4,577,831 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on CSCO. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a report on Wednesday, January 10th. William Blair restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, February 15th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Royal Bank of Canada restated a “buy” rating and set a $44.00 target price on shares of Cisco Systems in a report on Monday, February 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $46.00 target price (up from $40.00) on shares of Cisco Systems in a report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.25.
In other Cisco Systems news, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,986 shares of company stock worth $2,116,422. 0.05% of the stock is currently owned by corporate insiders.
Shares of Cisco Systems, Inc. (CSCO) opened at $44.27 on Tuesday. 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 $46.16. The firm has a market capitalization of $216,836.48, a PE ratio of -138.34, a PEG ratio of 3.03 and a beta of 1.10.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same quarter last year, the company earned $0.57 EPS. research analysts forecast that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
Cisco Systems declared that its board has approved a stock repurchase 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 buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Cisco Systems 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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