Endurance Wealth Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,993 shares of the network equipment provider’s stock after selling 2,646 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Cisco Systems were worth $5,669,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Ameriprise Financial Inc. grew its position 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 during the period. Stifel Financial Corp grew its position in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after buying an additional 8,016,561 shares during the period. Vanguard Group Inc. grew its position 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 during the period. American Century Companies Inc. grew its position in Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after buying an additional 5,049,326 shares during the period. Finally, Janus Henderson Group PLC grew its position in Cisco Systems by 51.1% during the second quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock valued at $423,475,000 after buying an additional 4,577,831 shares during the period. Hedge funds and other institutional investors own 77.56% of the company’s stock.
CSCO has been the subject of several research reports. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $45.60 price target for the company. in a research report on Monday, March 26th. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research 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 research report on Friday, March 16th. 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 research report on Thursday, February 15th. Finally, KeyCorp increased their price target on shares of Cisco Systems from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. 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 company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $44.23.
Shares of Cisco Systems stock traded down $1.09 on Friday, reaching $40.73. The stock had a trading volume of 32,208,693 shares, compared to its average volume of 28,736,010. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.16. The company has a market cap of $196,217.52, a price-to-earnings ratio of 18.94, a PEG ratio of 2.73 and a beta of 1.14. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.82 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. sell-side analysts predict that Cisco Systems, Inc. will post 2.33 earnings per share for the current year.
The business also recently announced 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. This is an increase 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%. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 61.40%.
Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Arun Sarin sold 14,189 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. Insiders sold 46,986 shares of company stock worth $2,116,422 over the last ninety days. 0.05% of the stock is currently owned by insiders.
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Cisco Systems Company 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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