Clearbridge Investments LLC lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,212,244 shares of the network equipment provider’s stock after buying an additional 790,303 shares during the quarter. Clearbridge Investments LLC owned approximately 0.17% of Cisco Systems worth $399,526,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA increased its holdings in Cisco Systems by 220,000.0% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock valued at $107,000 after acquiring an additional 2,200 shares during the last quarter. Camarda Financial Advisors LLC increased its holdings in shares of Cisco Systems by 546.3% in the 3rd quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock worth $126,000 after buying an additional 2,185 shares during the last quarter. Shamrock Asset Management LLC increased its holdings in shares of Cisco Systems by 3,623.0% in the 3rd quarter. Shamrock Asset Management LLC now owns 3,723 shares of the network equipment provider’s stock worth $181,000 after buying an additional 3,623 shares during the last quarter. McAdam LLC increased its holdings in shares of Cisco Systems by 1,374.4% in the 3rd quarter. McAdam LLC now owns 3,863 shares of the network equipment provider’s stock worth $189,000 after buying an additional 3,601 shares during the last quarter. Finally, Cantor Fitzgerald Investment Adviser L.P. bought a new stake in shares of Cisco Systems in the 3rd quarter worth about $200,000. Institutional investors own 68.13% of the company’s stock.
A number of analysts have recently weighed in on CSCO shares. Robert W. Baird restated an “outperform” rating and issued a $53.00 target price on shares of Cisco Systems in a report on Thursday, November 29th. Wolfe Research started coverage on shares of Cisco Systems in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Nomura downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Friday, December 14th. Argus restated a “buy” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Tuesday, January 15th. Finally, Credit Suisse Group set a $44.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a report on Wednesday, January 16th. Seven 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. The stock has a consensus rating of “Buy” and an average target price of $53.36.
Cisco Systems stock opened at $53.20 on Friday. The stock has a market capitalization 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 1 year low of $40.19 and a 1 year high of $53.62.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 2.74 earnings per share for the current fiscal year.
The business 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 represents a $1.40 annualized dividend and a yield of 2.63%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, April 4th. Cisco Systems’s payout ratio is 56.41%.
Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.70, for a total value of $3,619,000.00. Following the completion of the sale, the chief financial officer now directly owns 420,696 shares of the company’s stock, valued at approximately $21,749,983.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director M Michele Burns sold 4,744 shares of the business’s stock in a transaction dated 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 $3,267,665.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,744 shares of company stock valued at $6,135,021. 0.03% of the stock is owned by corporate insiders.
Cisco Systems 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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