MUFG Securities EMEA plc raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 500,000 shares of the network equipment provider’s stock after purchasing an additional 50,000 shares during the quarter. MUFG Securities EMEA plc’s holdings in Cisco Systems were worth $19,150,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Claraphi Advisory Network LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $248,000. Quadrant Private Wealth Management LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $351,000. Raymond James Trust N.A. lifted its position in shares of Cisco Systems by 2.7% in the 4th quarter. Raymond James Trust N.A. now owns 408,610 shares of the network equipment provider’s stock worth $15,650,000 after purchasing an additional 10,829 shares during the period. Columbus Macro LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth about $985,000. Finally, Broderick Brian C lifted its position in shares of Cisco Systems by 7.7% in the 4th quarter. Broderick Brian C now owns 52,645 shares of the network equipment provider’s stock worth $2,016,000 after purchasing an additional 3,779 shares during the period. 77.55% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on CSCO. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 target price for the company. in a research report on Wednesday. Goldman Sachs raised shares of Cisco Systems from a “buy” rating to a “conviction-buy” rating in a research report on Friday, March 23rd. Citigroup raised their target price on shares of Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, March 16th. Morgan Stanley raised their target price on shares of Cisco Systems from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.23.
NASDAQ:CSCO opened at $44.59 on Wednesday. The stock has a market cap of $207,153.28, a price-to-earnings ratio of 20.74, a PEG ratio of 2.88 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, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.16.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period last year, the business earned $0.57 EPS. equities research analysts expect that Cisco Systems, Inc. will post 2.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. 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 2.96%. 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 has authorized 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. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other Cisco Systems 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 transaction of $940,530.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the sale, the director now owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is owned by company 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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