Lumature Wealth Partners LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,402 shares of the network equipment provider’s stock after acquiring an additional 1,077 shares during the period. Lumature Wealth Partners LLC’s holdings in Cisco Systems were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Cisco Systems by 5.8% during the third quarter. Wellington Management Group LLP now owns 93,121,610 shares of the network equipment provider’s stock worth $5,068,609,000 after buying an additional 5,079,220 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 71,756,668 shares of the network equipment provider’s stock valued at $3,895,601,000 after purchasing an additional 1,821,159 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Cisco Systems by 0.3% in the 4th quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock valued at $3,496,355,000 after purchasing an additional 183,779 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cisco Systems by 30.1% in the 3rd quarter. Invesco Ltd. now owns 33,964,920 shares of the network equipment provider’s stock valued at $1,848,711,000 after purchasing an additional 7,850,030 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 26,672,246 shares of the network equipment provider’s stock valued at $1,451,770,000 after purchasing an additional 341,269 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on the company. Loop Capital assumed coverage on Cisco Systems in a research note on Monday, February 14th. They issued a “buy” rating and a $71.00 price target on the stock. Citigroup lowered Cisco Systems from a “neutral” rating to a “sell” rating and decreased their price target for the company from $65.00 to $45.00 in a research note on Tuesday, April 12th. Raymond James cut their price objective on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, February 17th. JPMorgan Chase & Co. cut their price objective on Cisco Systems from $70.00 to $69.00 in a report on Thursday, January 20th. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, January 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $62.44.
NASDAQ:CSCO opened at $49.56 on Friday. The stock has a 50-day simple moving average of $52.97 and a 200-day simple moving average of $55.98. The stock has a market cap of $205.88 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.42 and a beta of 0.99. Cisco Systems, Inc. has a 1 year low of $47.47 and a 1 year high of $64.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.34 and a current ratio of 1.42.
Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The business had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Wednesday, April 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.07%. Cisco Systems’s dividend payout ratio is 54.29%.
Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 16th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
Cisco Systems Profile (Get Rating)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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