MCF Advisors LLC lowered its stake in Cisco Systems (NASDAQ:CSCO) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,075 shares of the network equipment provider’s stock after selling 1,599 shares during the period. MCF Advisors LLC’s holdings in Cisco Systems were worth $233,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Key Square Capital Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth $59,104,000. ING Groep NV raised its holdings in shares of Cisco Systems by 25.4% in the fourth quarter. ING Groep NV now owns 1,448,950 shares of the network equipment provider’s stock worth $55,495,000 after buying an additional 293,135 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in shares of Cisco Systems by 8.0% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 799,657 shares of the network equipment provider’s stock worth $30,627,000 after buying an additional 59,116 shares during the last quarter. Bruderman Asset Management LLC raised its holdings in shares of Cisco Systems by 2.8% in the fourth quarter. Bruderman Asset Management LLC now owns 383,368 shares of the network equipment provider’s stock worth $14,683,000 after buying an additional 10,416 shares during the last quarter. Finally, Novare Capital Management LLC raised its holdings in shares of Cisco Systems by 1.9% in the fourth quarter. Novare Capital Management LLC now owns 86,416 shares of the network equipment provider’s stock worth $3,310,000 after buying an additional 1,635 shares during the last quarter. 77.58% of the stock is owned by institutional investors and hedge funds.
CSCO opened at $44.25 on Tuesday. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49. The firm has a market cap of $212,404.38, a price-to-earnings ratio of 20.58, a P/E/G ratio of 3.15 and a beta of 1.14. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $46.16.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to the consensus estimate 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 firm posted $0.57 earnings per share. research analysts anticipate that Cisco Systems will post 2.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.98%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.
Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on the stock. Piper Jaffray reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Wednesday, January 10th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Royal Bank of Canada reiterated a “buy” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Monday, February 12th. Finally, KeyCorp increased their price objective on shares of Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Eleven equities research 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. The stock has a consensus rating of “Buy” and a consensus target price of $44.26.
In other Cisco Systems news, EVP David Goeckeler sold 20,671 shares of the stock in a transaction on 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Arun Sarin sold 14,189 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total transaction of $625,734.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,986 shares of company stock worth $2,116,422. Insiders own 0.05% of the company’s stock.
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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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