Carillon Tower Advisers Inc. acquired a new stake in shares of Cisco Systems (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 479,266 shares of the network equipment provider’s stock, valued at approximately $18,356,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. IFG Advisory LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $2,375,000. Stonehearth Capital Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $102,000. Keeler Thomas Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $108,000. Goodman Financial Corp bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $115,000. Finally, Tarbox Family Office Inc. raised its holdings in shares of Cisco Systems by 67.9% in the 4th quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock valued at $127,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors own 77.40% of the company’s stock.
NASDAQ:CSCO opened at $43.46 on Friday. The company has a market cap of $219.10 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 3.25 and a beta of 1.14. Cisco Systems has a twelve month low of $45.14 and a twelve month high of $45.54. 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 released its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same quarter in the previous year, the firm earned $0.60 EPS. equities research analysts expect that Cisco Systems will post 2.33 earnings per share for the current year.
Cisco Systems announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the sale, the director now directly owns 74,479 shares in the company, valued at approximately $3,379,112.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of Cisco Systems 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. In the last three months, insiders have sold 46,986 shares of company stock worth $2,116,422. 0.05% of the stock is owned by insiders.
Several equities research analysts have recently commented on CSCO shares. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $46.32 price target for the company in a report on Tuesday, April 3rd. Goldman Sachs upgraded shares of Cisco Systems from a “buy” rating to a “conviction-buy” rating in a report on Friday, March 23rd. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on shares of Cisco Systems to $50.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $45.23.
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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