CWA Asset Management Group LLC reduced its position in Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,431 shares of the network equipment provider’s stock after selling 1,097 shares during the period. CWA Asset Management Group LLC’s holdings in Cisco Systems were worth $ 1,865,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Coastal Bridge Advisors LLC lifted its holdings in Cisco Systems by 52.6% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 17,065 shares of the network equipment provider’s stock worth $ 929,000 after buying an additional 5,881 shares during the last quarter. Claro Advisors LLC boosted its holdings in Cisco Systems by 3.1% in the third quarter. Claro Advisors LLC now owns 26,734 shares of the network equipment provider’s stock worth $ 1,455,000 after purchasing an additional 798 shares during the period. Certified Advisory Corp increased its stake in Cisco Systems by 8.5% during the third quarter. Certified Advisory Corp now owns 4,439 shares of the network equipment provider’s stock valued at $ 241,000 after purchasing an additional 347 shares during the last quarter. Capstone Financial Advisors Inc. acquired a new stake in shares of Cisco Systems during the third quarter worth $ 273,000. Finally, Capital World Investors lifted its position in shares of Cisco Systems by 29.1% in the 3rd quarter. Capital World Investors now owns 10,133,242 shares of the network equipment provider’s stock worth $ 551,552,000 after buying an additional 2,283,961 shares during the last quarter. Institutional investors own 73.18% of the company stock.
In other Cisco Systems news, CEO Charles Robbins sold 12,717 shares of the company stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following the transaction, the chief executive officer now directly owns 651,577 shares of the company stock, valued at approximately $ 28,532,556.83. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 3,700 shares of Cisco Systems stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $ 43.34, for a total value of $ 160,358.00. Following the sale, the senior vice president now owns 80,784 shares of the company stock, valued at $ 3,501,178.56. The disclosure for this sale can be found here. Insiders have sold 20,045 shares of company stock worth $ 874,473 over the last ninety days. 0.02% of the stock is currently owned by insiders.
CSCO has been the subject of a number of research reports. Piper Sandler decreased their target price on Cisco Systems from $ 57.00 to $ 43.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. UBS Group lowered their price objective on Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. JPMorgan Chase & Co. cut their target price on Cisco Systems from $ 67.00 to $ 62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Bank of America lowered their price target on shares of Cisco Systems from $ 62.00 to $ 52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Finally, KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Buy” and an average price target of $ 55.05.
Shares of Cisco Systems stock opened at $ 43.24 on Tuesday. Cisco Systems, Inc. has a 12-month low of $ 41.02 and a 12-month high of $ 64.29. The firm has a market capitalization of $ 179.06 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $ 48.65 and its 200-day moving average is $ 54.34.
Cisco Systems (NASDAQ: CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $ 0.87 EPS for the quarter, beating analysts’ consensus estimates of $ 0.86 by $ 0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same quarter last year, the firm earned $ 0.75 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.
Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 16th that authorizes the company to buyback $ 15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th will be issued a dividend of $ 0.38 per share. This represents a $ 1.52 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.33%.
Cisco Systems Company Profile: (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and / or store data.
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