Jackson Wealth Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,776 shares of the network equipment provider’s stock after acquiring an additional 10,866 shares during the quarter. Cisco Systems makes up approximately 1.5% of Jackson Wealth Management LLC’s holdings, making the stock its 21st largest holding. Jackson Wealth Management LLC’s holdings in Cisco Systems were worth $6,064,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Stonehearth Capital Management LLC bought a new position in Cisco Systems in the 4th quarter worth approximately $102,000. Mountain Capital Investment Advisors Inc bought a new position in Cisco Systems in the 2nd quarter worth approximately $104,000. Manchester Capital Management LLC raised its position in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares during the last quarter. Goodman Financial Corp bought a new position in Cisco Systems in the 4th quarter worth approximately $115,000. Finally, Ffcm LLC raised its position in shares of Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after acquiring an additional 3,564 shares during the last quarter. 77.55% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on CSCO. Barclays upped their target price on shares of Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Nomura upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, February 12th. Stifel Nicolaus reiterated a “hold” rating and set a $46.00 target price (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday, February 15th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Wednesday, February 21st. Finally, Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 target price for the company. in a research report on Monday, April 9th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $44.26.
CSCO opened at $44.63 on Thursday. 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 12 month low of $30.36 and a 12 month high of $46.16. The firm has a market capitalization of $208,598.53, a P/E ratio of 20.76, a PEG ratio of 2.91 and a beta of 1.14.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. During the same quarter in the prior year, the company earned $0.57 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.33 earnings per share for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is currently 61.40%.
Cisco Systems declared that its Board of Directors has authorized a share buyback program on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, EVP David Goeckeler sold 20,671 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total value of $940,530.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction 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 $3,379,112.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is owned by corporate insiders.
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About Cisco Systems
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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