Bank of Montreal Can boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,502,348 shares of the network equipment provider’s stock after acquiring an additional 1,275,170 shares during the quarter. Bank of Montreal Can owned 0.31% of Cisco Systems worth $593,743,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Richard Bernstein Advisors LLC lifted its position in Cisco Systems by 21.2% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after buying an additional 47,211 shares in the last quarter. Pzena Investment Management LLC lifted its position in Cisco Systems by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after buying an additional 10,265 shares in the last quarter. Forward Management LLC bought a new stake in Cisco Systems during the 3rd quarter worth about $869,000. Aviva PLC lifted its position in Cisco Systems by 6.5% during the 2nd quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after buying an additional 289,899 shares in the last quarter. Finally, Troy Asset Management Ltd lifted its position in Cisco Systems by 15.0% during the 3rd quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock worth $3,943,000 after buying an additional 15,250 shares in the last quarter. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the transaction, the director now owns 113,154 shares in the company, valued at approximately $4,299,852. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,566 shares of company stock worth $4,636,938. Company insiders own 0.05% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) opened at $45.55 on Tuesday. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $45.89. The stock has a market cap of $219,440.00, a P/E ratio of -142.34, a price-to-earnings-growth ratio of 3.05 and a beta of 1.10. 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 announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same quarter in the prior year, the business posted $0.57 EPS. sell-side analysts expect that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is presently -362.50%.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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