Legacy Advisors LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 116.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,914 shares of the network equipment provider’s stock after acquiring an additional 6,402 shares during the period. Legacy Advisors LLC’s holdings in Cisco Systems were worth $571,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its position in shares of Cisco Systems by 1,546.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after acquiring an additional 45,351,980 shares in the last quarter. First Trust Advisors LP lifted its stake in Cisco Systems by 155.6% in the third quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after buying an additional 10,621,798 shares in the last quarter. Parnassus Investments CA bought a new position in Cisco Systems in the third quarter valued at approximately $444,882,000. Massachusetts Financial Services Co. MA lifted its position in shares of Cisco Systems by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after purchasing an additional 2,496,113 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cisco Systems by 13.2% in the third quarter. California Public Employees Retirement System now owns 15,745,642 shares of the network equipment provider’s stock worth $777,992,000 after purchasing an additional 1,836,457 shares in the last quarter. Institutional investors own 72.62% of the company’s stock.
A number of analysts have recently commented on the stock. Goldman Sachs Group set a $48.00 price objective on shares of Cisco Systems and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Robert W. Baird reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Cisco Systems in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, November 14th. Royal Bank of Canada set a $56.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. Cisco Systems presently has an average rating of “Hold” and an average target price of $54.69.
Shares of NASDAQ CSCO traded down $0.22 during midday trading on Tuesday, reaching $48.80. 15,740,279 shares of the company were exchanged, compared to its average volume of 15,210,011. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The stock has a market cap of $207.96 billion, a P/E ratio of 19.44, a PEG ratio of 2.85 and a beta of 1.23. Cisco Systems, Inc. has a 1 year low of $43.40 and a 1 year high of $58.26. The stock has a fifty day simple moving average of $46.83 and a 200 day simple moving average of $48.99.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The firm had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the previous year, the company earned $0.75 EPS. Cisco Systems’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.35 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the completion of the sale, the chief financial officer now owns 352,587 shares of the company’s stock, valued at approximately $15,933,406.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Irving Tan sold 28,093 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $45.36, for a total transaction of $1,274,298.48. Following the sale, the executive vice president now directly owns 151,587 shares of the company’s stock, valued at approximately $6,875,986.32. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock valued at $17,474,321 in the last three months. Company insiders own 0.03% of the company’s stock.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
