Cornerstone Investment Partners LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 88.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,109,826 shares of the network equipment provider’s stock after purchasing an additional 2,392,535 shares during the quarter. Cisco Systems makes up about 4.3% of Cornerstone Investment Partners LLC’s holdings, making the stock its 3rd biggest position. Cornerstone Investment Partners LLC owned approximately 0.10% of Cisco Systems worth $195,706,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $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% in 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 purchasing an additional 8,016,561 shares during the period. Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% in 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 purchasing an additional 7,411,891 shares during the period. American Century Companies Inc. boosted its holdings in Cisco Systems by 54.2% in 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 purchasing an additional 5,049,326 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Cisco Systems by 51.1% in 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 purchasing an additional 4,577,831 shares during the period. Institutional investors own 77.53% of the company’s stock.
A number of analysts have weighed in on CSCO shares. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Citigroup increased their price target on shares of Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 16th. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 price target for the company in a report on Monday, February 5th. BMO Capital Markets increased their price target on shares of Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Finally, KeyCorp increased their price objective on shares of Cisco Systems from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.25.
Shares of CSCO stock opened at $44.37 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The firm has a market cap of $213,271.53, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.98 and a beta of 1.10. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.16.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations 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 company posted $0.57 EPS. equities research analysts forecast that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is presently -362.50%.
Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total value of $940,530.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the transaction, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The disclosure for this sale can be found here. Insiders sold a total of 46,986 shares of company stock valued at $2,116,422 in the last 90 days. Corporate insiders own 0.05% of the company’s stock.
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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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