CAPROCK Group Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,844 shares of the network equipment provider’s stock after selling 9,990 shares during the quarter. Cisco Systems makes up 0.8% of CAPROCK Group Inc.’s portfolio, making the stock its 18th biggest position. CAPROCK Group Inc.’s holdings in Cisco Systems were worth $4,357,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CSCO. Vanguard Group Inc. raised its stake in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after buying an additional 11,972,070 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cisco Systems by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after buying an additional 2,987,682 shares in the last quarter. Nordea Investment Management AB raised its stake in Cisco Systems by 8.3% during the third quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after buying an additional 2,617,310 shares in the last quarter. Finally, Boston Partners raised its stake in Cisco Systems by 1.1% during the third quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock valued at $1,022,399,000 after buying an additional 329,474 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.
Shares of CSCO stock opened at $40.73 on Friday. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $46.16. The company has a market capitalization of $198,481.75, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during 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 forecast that Cisco Systems, Inc. will post 2.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors 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 yield of 3.24%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is 61.40%.
Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts have issued reports on the company. Vetr cut Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 price objective on the stock. in a research note on Monday. Goldman Sachs upgraded Cisco Systems from a “buy” rating to a “conviction-buy” rating in a research note on Friday, March 23rd. Citigroup upped their price objective on Cisco Systems from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 16th. Morgan Stanley upped their price objective on Cisco Systems from $46.00 to $50.00 and gave the company an “overweight” rating in a research note 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 objective on the stock in a research note on Wednesday, February 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $44.23.
In related news, Director M Michele Burns sold 12,126 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now directly owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Goeckeler sold 20,671 shares of the 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. Insiders sold a total of 46,986 shares of company stock valued at $2,116,422 over the last three months. Corporate insiders own 0.05% of the company’s stock.
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Cisco Systems Profile
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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