Forum Financial Management LP bought a new position in shares of Cisco Systems, Inc. (NASDAQ: CSCO – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 36,682 shares of the network equipment provider’s stock, valued at approximately $ 2,325,000.
A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Cisco Systems by 3.2% during the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $ 11,794,751,000 after buying an additional 5,730,165 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Cisco Systems by 5.8% during the 3rd quarter. Wellington Management Group LLP now owns 93,121,610 shares of the network equipment provider’s stock worth $ 5,068,609,000 after buying an additional 5,079,220 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cisco Systems by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $ 4,623,101,000 after buying an additional 1,380,066 shares during the last quarter. Northern Trust Corp lifted its holdings in Cisco Systems by 0.3% during the 4th quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $ 3,496,355,000 after buying an additional 183,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cisco Systems by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock worth $ 3,185,537,000 after buying an additional 2,336,314 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors.
In other Cisco Systems news, COO Maria Martinez sold 4,674 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $ 43.33, for a total transaction of $ 202,524.42. Following the transaction, the chief operating officer now directly owns 286,033 shares in the company, valued at $ 12,393,809.89. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 43.79, for a total value of $ 556,877.43. Following the transaction, the chief executive officer now owns 651,577 shares in the company, valued at $ 28,532,556.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,326 shares of company stock valued at $ 1,103,159. Insiders own 0.02% of the company stock.
Shares of Cisco Systems stock opened at $ 43.80 on Thursday. The stock has a market cap of $ 181.37 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The business has a fifty day simple moving average of $ 48.20 and a 200-day simple moving average of $ 54.19. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12 month low of $ 41.02 and a 12 month high of $ 64.29.
Cisco Systems (NASDAQ: CSCO – Get Rating) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $ 0.87 EPS for the quarter, topping the consensus estimate of $ 0.86 by $ 0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the previous year, the firm earned $ 0.75 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a $ 0.38 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $ 1.52 annualized dividend and a dividend yield of 3.47%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.33%.
CSCO has been the topic of several recent research reports. UBS Group cut their price target on Cisco Systems from $ 59.00 to $ 46.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Jefferies Financial Group cut their price target on Cisco Systems from $ 65.00 to $ 52.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Piper Sandler cut their price target on Cisco Systems from $ 57.00 to $ 43.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Citigroup cut their price target on Cisco Systems from $ 45.00 to $ 40.00 and set a “sell” rating on the stock in a report on Thursday, May 19th. Finally, Evercore ISI cut their price target on Cisco Systems from $ 62.00 to $ 50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. One investment 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, the company presently has a consensus rating of “Buy” and an average price target of $ 55.05.
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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