Gateway Investment Advisers LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,818,873 shares of the network equipment provider’s stock after selling 191,383 shares during the period. Cisco Systems comprises 0.9% of Gateway Investment Advisers LLC’s holdings, making the stock its 26th biggest position. Gateway Investment Advisers LLC owned 0.06% of Cisco Systems worth $107,963,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Richard Bernstein Advisors LLC lifted its position in shares of Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the period. Pzena Investment Management LLC raised its stake in shares of 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 acquiring an additional 10,265 shares in the last quarter. Forward Management LLC bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $869,000. Aviva PLC raised its stake in shares of 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 acquiring an additional 289,899 shares in the last quarter. Finally, Troy Asset Management Ltd raised its stake in shares of 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 acquiring an additional 15,250 shares in the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Arun Sarin sold 14,189 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total transaction of $625,734.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director M Michele Burns sold 12,126 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total transaction of $550,156.62. Following the sale, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders have sold 116,566 shares of company stock worth $4,636,938 over the last three months. 0.05% of the stock is currently owned by insiders.
Shares of Cisco Systems, Inc. (CSCO) opened at $45.16 on Wednesday. The firm has a market cap of $219,437.94, a price-to-earnings ratio of 20.52, a PEG ratio of 3.06 and a beta of 1.10. Cisco Systems, Inc. has a 52 week low of $30.36 and a 52 week high of $46.16. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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 the consensus estimate of $11.82 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. research analysts forecast that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 2.92%. Cisco Systems’s dividend payout ratio is -362.50%.
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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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