Penn Davis Mcfarland Inc. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,600 shares of the network equipment provider’s stock, valued at approximately $214,000. Cisco Systems accounts for 0.1% of Penn Davis Mcfarland Inc.’s holdings, making the stock its 29th biggest holding.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Richard Bernstein Advisors LLC grew its stake in shares of Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock valued at $8,434,000 after buying an additional 47,211 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Cisco Systems by 0.4% in the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock valued at $84,648,000 after buying an additional 10,265 shares in the last quarter. Forward Management LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at about $869,000. Aviva PLC grew its stake in shares of Cisco Systems by 6.5% in the second quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock valued at $149,343,000 after buying an additional 289,899 shares in the last quarter. Finally, Troy Asset Management Ltd grew its stake in shares of Cisco Systems by 15.0% in the third quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock valued at $3,943,000 after buying an additional 15,250 shares in the last quarter. Hedge funds and other institutional investors own 77.56% of the company’s stock.
In other news, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction 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 sale, the director now owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Goeckeler sold 20,671 shares of the business’s stock in a transaction 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 worth $2,116,422 in the last three months. Company insiders own 0.05% of the company’s stock.
Cisco Systems stock traded down $1.09 during mid-day trading on Friday, hitting $40.73. 32,208,693 shares of the company’s stock traded hands, compared to its average volume of 28,736,010. 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 company has a market capitalization of $196,217.52, a P/E ratio of 18.94, a PEG ratio of 2.73 and a beta of 1.14. Cisco Systems, Inc. has a one year low of $30.36 and a one year high of $46.16.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results 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. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter in the previous year, the business earned $0.57 EPS. research analysts expect that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.
Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.24%. 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 payout ratio is currently 61.40%.
A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, January 17th. Nomura upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Monday, February 12th. Stifel Nicolaus restated a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, February 21st. Finally, Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 price objective for the company. in a research note on Monday. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.23.
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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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