Diversified Trust Co lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,691 shares of the network equipment provider’s stock after acquiring an additional 16,704 shares during the period. Diversified Trust Co’s holdings in Cisco Systems were worth $6,553,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Cisco Systems by 193,168.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after buying an additional 104,687,754 shares in the last quarter. Morgan Stanley increased its position in Cisco Systems by 15.9% in the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock valued at $2,192,694,000 after buying an additional 7,009,359 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Cisco Systems by 1.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 23,312,087 shares of the network equipment provider’s stock valued at $1,134,133,000 after buying an additional 230,344 shares in the last quarter. Fisher Asset Management LLC increased its position in Cisco Systems by 11.9% in the 3rd quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock valued at $977,856,000 after buying an additional 2,129,952 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Cisco Systems by 3.1% in the 3rd quarter. Teachers Advisors LLC now owns 16,278,554 shares of the network equipment provider’s stock valued at $791,952,000 after buying an additional 482,109 shares in the last quarter. 68.13% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $51.70, for a total value of $3,619,000.00. Following the transaction, the chief financial officer now owns 420,696 shares in the company, valued at approximately $21,749,983.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director M Michele Burns sold 4,744 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total value of $209,020.64. Following the completion of the transaction, the director now owns 74,164 shares in the company, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. Insiders sold a total of 119,744 shares of company stock worth $6,135,021 in the last 90 days. Company insiders own 0.03% of the company’s stock.
A number of brokerages recently commented on CSCO. MKM Partners boosted their target price on Cisco Systems to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Credit Suisse Group boosted their target price on Cisco Systems from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. KeyCorp boosted their target price on Cisco Systems from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, February 14th. Bank of America reaffirmed a “buy” rating and issued a $56.00 target price on shares of Cisco Systems in a research report on Thursday, February 14th. Finally, Jefferies Financial Group boosted their target price on Cisco Systems to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $53.36.
CSCO stock opened at $53.20 on Friday. The stock has a market cap of $253.35 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.80 and a quick ratio of 1.74. Cisco Systems, Inc. has a 52-week low of $40.19 and a 52-week high of $53.62.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.74 EPS for the current year.
Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s payout ratio is presently 56.41%.
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About Cisco Systems
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.
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