Cisco Systems, Inc. (CSCO) Stake Decreased by Dodge & Cox

Dodge & Cox reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,387,868 shares of the network equipment provider’s stock after selling 4,410,070 shares during the period. Dodge & Cox owned 0.73% of Cisco Systems worth $1,721,620,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CSCO. Bank of New York Mellon Corp lifted its holdings in shares of Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after acquiring an additional 104,687,754 shares during the period. Morgan Stanley lifted its holdings in shares of Cisco Systems by 15.9% during the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after acquiring an additional 7,009,359 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the 2nd quarter worth about $279,790,000. Man Group plc lifted its holdings in shares of Cisco Systems by 412.1% during the 3rd quarter. Man Group plc now owns 3,063,334 shares of the network equipment provider’s stock worth $149,032,000 after acquiring an additional 2,465,161 shares during the period. Finally, Putnam Investments LLC lifted its holdings in shares of Cisco Systems by 44.9% during the 2nd quarter. Putnam Investments LLC now owns 7,610,821 shares of the network equipment provider’s stock worth $327,494,000 after acquiring an additional 2,359,159 shares during the period. Institutional investors and hedge funds own 68.13% of the company’s stock.

Shares of NASDAQ:CSCO opened at $53.20 on Friday. 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. The company has a market capitalization of $253.35 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 2.72 and a beta of 1.22.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter last year, the company earned $0.63 earnings per share. Cisco Systems’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.74 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be given a $0.35 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.40 annualized dividend and a yield of 2.63%. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.

In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total value of $744,900.00. Following the completion of the sale, the director now owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 4,744 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $44.06, for a total transaction of $209,020.64. Following the completion of the sale, the director now directly owns 74,164 shares of the company’s stock, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. Insiders sold 119,744 shares of company stock valued at $6,135,021 in the last ninety days. 0.03% of the stock is owned by corporate insiders.

CSCO has been the subject of a number of research analyst reports. Wells Fargo & Co reissued an “outperform” rating and set a $57.00 target price (up previously from $52.00) on shares of Cisco Systems in a research report on Wednesday, February 13th. Argus reissued a “buy” rating and set a $55.00 target price on shares of Cisco Systems in a research report on Tuesday, January 15th. Wolfe Research initiated coverage on shares of Cisco Systems in a research report on Tuesday, December 11th. They set an “outperform” rating for the company. Credit Suisse Group increased their target price on shares of Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Finally, MKM Partners increased their target price on shares of Cisco Systems to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $53.36.

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Cisco Systems Company 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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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