Carroll Financial Associates Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,661 shares of the network equipment provider’s stock after selling 5,748 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Cisco Systems were worth $2,246,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CSCO. Vantage Financial Partners Ltd. Inc. bought a new stake in Cisco Systems during the second quarter worth approximately $231,000. Stonehearth Capital Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $102,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $104,000. Manchester Capital Management LLC boosted its position in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. Finally, Ffcm LLC boosted its position in shares of Cisco Systems by 2,025.0% during the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after buying an additional 3,564 shares during the period. 77.56% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 target price for the company. in a research report on Monday. Goldman Sachs upgraded Cisco Systems from a “buy” rating to a “conviction-buy” rating in a report on Friday, March 23rd. Citigroup boosted their price target on Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 16th. Morgan Stanley boosted their price target on Cisco Systems from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, February 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.23.
NASDAQ:CSCO traded down $1.09 during mid-day trading on Friday, hitting $40.73. The company’s stock had a trading volume of 32,208,693 shares, compared to its average volume of 28,736,010. 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 1 year low of $30.36 and a 1 year high of $46.16. The firm has a market cap of $201,468.61, a price-to-earnings ratio of 18.94, a PEG ratio of 2.81 and a beta of 1.14.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to analyst estimates of $11.82 billion. During the same period in the prior year, the company posted $0.57 EPS. equities research analysts predict that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 3.24%. Cisco Systems’s dividend payout ratio (DPR) is currently 61.40%.
Cisco Systems announced that its board has approved a share buyback plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related 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 through this link. Also, Director Arun Sarin sold 14,189 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total transaction of $625,734.90. The disclosure for this sale can be found here. Insiders sold a total of 46,986 shares of company stock worth $2,116,422 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
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About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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