Harwood Advisory Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,563 shares of the network equipment provider’s stock after purchasing an additional 7,724 shares during the period. Harwood Advisory Group LLC’s holdings in Cisco Systems were worth $1,633,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Cisco Systems by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after buying an additional 13,927,416 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of 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 valued at $2,109,614,000 after buying an additional 11,972,070 shares during the period. Stifel Financial Corp boosted its stake in shares of Cisco Systems by 6,109.5% during the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after buying an additional 8,016,561 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Cisco Systems by 5,651.3% during the 4th quarter. Mackenzie Financial Corp now owns 4,910,280 shares of the network equipment provider’s stock valued at $188,064,000 after buying an additional 4,824,903 shares during the period. Finally, Boston Partners boosted its stake in shares of Cisco Systems by 11.2% during the 4th quarter. Boston Partners now owns 33,799,233 shares of the network equipment provider’s stock valued at $1,294,510,000 after buying an additional 3,397,848 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP David Goeckeler sold 20,671 shares of the business’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 filing with the SEC, which is accessible through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following 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 own 0.05% of the company’s stock.
Cisco Systems opened at $43.68 on Thursday, Marketbeat.com reports. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $46.37. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44. The stock has a market cap of $210.28 billion, a PE ratio of 20.32, a P/E/G ratio of 3.11 and a beta of 1.14.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. research analysts expect that Cisco Systems, Inc. will post 2.34 earnings per share for the current year.
Cisco Systems declared that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
A number of equities research analysts have issued reports on the stock. Argus lifted their target price on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a research note on Friday, May 18th. Credit Suisse Group set a $41.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a research note on Thursday, May 17th. BidaskClub lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 19th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Cisco Systems in a research note on Monday, February 12th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $46.11.
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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