Optas LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,697 shares of the network equipment provider’s stock after buying an additional 562 shares during the quarter. Optas LLC’s holdings in Cisco Systems were worth $752,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP lifted its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. Czech National Bank lifted its position in shares of Cisco Systems by 6.4% during the 3rd quarter. Czech National Bank now owns 820,712 shares of the network equipment provider’s stock valued at $43,678,000 after acquiring an additional 49,100 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cisco Systems by 19.4% during the 3rd quarter. GAMMA Investing LLC now owns 82,544 shares of the network equipment provider’s stock valued at $4,393,000 after acquiring an additional 13,406 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of Cisco Systems by 2.3% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 39,516 shares of the network equipment provider’s stock valued at $2,103,000 after acquiring an additional 907 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Cisco Systems by 3.6% during the 3rd quarter. Diversified Trust Co now owns 51,885 shares of the network equipment provider’s stock valued at $2,761,000 after acquiring an additional 1,827 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on CSCO. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $73.00 in a report on Monday, January 6th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. Finally, Tigress Financial increased their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $62.72.
Cisco Systems Trading Up 0.7 %
Shares of NASDAQ:CSCO opened at $61.04 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock’s 50-day moving average is $59.44 and its 200-day moving average is $54.58. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.31. The company has a market cap of $243.11 billion, a P/E ratio of 26.20, a P/E/G ratio of 4.51 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.
Insiders Place Their Bets
In other news, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the sale, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. Company insiders own 0.01% of the company’s stock.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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