Hamlin Capital Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,236,608 shares of the network equipment provider’s stock after selling 77,751 shares during the quarter. Cisco Systems makes up about 4.8% of Hamlin Capital Management LLC’s investment portfolio, making the stock its biggest position. Hamlin Capital Management LLC’s holdings in Cisco Systems were worth $123,962,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Cisco Systems by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Cisco Systems by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after buying an additional 2,987,682 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Cisco Systems by 8.3% during the 3rd quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock worth $1,143,876,000 after buying an additional 2,617,310 shares during the last quarter. Finally, Boston Partners lifted its holdings in Cisco Systems by 1.1% during the 3rd quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock worth $1,022,399,000 after buying an additional 329,474 shares during the last quarter. Hedge funds and other institutional investors own 77.56% of the company’s stock.
A number of brokerages have issued reports on CSCO. Citigroup lifted their price target on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 price target for the company in a report on Monday, March 19th. Argus reaffirmed a “buy” rating and set a $50.00 price target (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. MKM Partners lifted their price target on Cisco Systems to $48.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $50.00 price target (up from $46.00) on shares of Cisco Systems in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Cisco Systems presently has an average rating of “Buy” and an average price target of $44.23.
In related news, Director Arun Sarin sold 14,189 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total value of $625,734.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were 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 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 worth $2,116,422 in the last 90 days. 0.05% of the stock is currently owned by insiders.
CSCO opened at $40.73 on Monday. 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 one year low of $30.36 and a one year high of $46.16. The stock has a market cap of $196,217.52, a PE ratio of 18.94, a PEG ratio of 2.73 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same quarter in the previous year, the firm earned $0.57 earnings per share. equities research analysts anticipate that Cisco Systems, Inc. will post 2.33 EPS for the current 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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.24%. 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 payout ratio is 61.40%.
Cisco Systems declared that its Board of Directors has initiated a stock buyback 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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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