NEXT Financial Group Inc cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,555 shares of the network equipment provider’s stock after selling 10,764 shares during the period. NEXT Financial Group Inc’s holdings in Cisco Systems were worth $1,362,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in Cisco Systems during the 2nd quarter worth $231,000. Stonehearth Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter worth $102,000. Mountain Capital Investment Advisors Inc purchased a new stake in Cisco Systems during the 2nd quarter worth $104,000. Manchester Capital Management LLC boosted its position in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares during the period. Finally, Ffcm LLC boosted its position in Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after purchasing an additional 3,564 shares during the period. 77.65% of the stock is owned by institutional investors.
CSCO has been the subject of a number of research reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, November 15th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 price objective on the stock in a report on Monday, February 5th. BMO Capital Markets boosted their price objective on shares of Cisco Systems from $36.00 to $43.00 and gave the stock a “market perform” rating in a report on Thursday, February 15th. Finally, KeyCorp boosted their price objective on shares of Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.04.
Shares of Cisco Systems, Inc. (CSCO) opened at $45.55 on Tuesday. The stock has a market cap of $219,440.00, a PE ratio of -142.34, a PEG ratio of 3.05 and a beta of 1.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $45.89.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 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 prior year, the business posted $0.57 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend 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 -362.50%.
Cisco Systems announced that its board has authorized a stock repurchase 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 typically an indication that the company’s leadership believes its shares are undervalued.
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Cisco Systems Profile
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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