Cypress Wealth Services LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,548 shares of the network equipment provider’s stock after purchasing an additional 1,079 shares during the period. Cypress Wealth Services LLC’s holdings in Cisco Systems were worth $414,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Waldron Private Wealth LLC grew its stake in Cisco Systems by 1.5% in the 3rd quarter. Waldron Private Wealth LLC now owns 16,212 shares of the network equipment provider’s stock worth $788,000 after buying an additional 242 shares in the last quarter. Winthrop Advisory Group LLC grew its stake in Cisco Systems by 3.9% in the 4th quarter. Winthrop Advisory Group LLC now owns 7,385 shares of the network equipment provider’s stock worth $320,000 after buying an additional 278 shares in the last quarter. Mercer Capital Advisers Inc. grew its stake in Cisco Systems by 4.8% in the 4th quarter. Mercer Capital Advisers Inc. now owns 6,525 shares of the network equipment provider’s stock worth $283,000 after buying an additional 300 shares in the last quarter. Gemmer Asset Management LLC grew its stake in Cisco Systems by 7.7% in the 4th quarter. Gemmer Asset Management LLC now owns 4,705 shares of the network equipment provider’s stock worth $204,000 after buying an additional 337 shares in the last quarter. Finally, Eastern Bank grew its stake in Cisco Systems by 0.3% in the 4th quarter. Eastern Bank now owns 112,876 shares of the network equipment provider’s stock worth $4,892,000 after buying an additional 354 shares in the last quarter. 69.14% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on CSCO shares. Goldman Sachs Group cut shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $62.00 in a research note on Tuesday. Bank of America reissued a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a research note on Thursday, February 14th. Jefferies Financial Group boosted their price target on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Citigroup boosted their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Finally, Robert W. Baird reissued a “buy” rating and issued a $53.00 price target on shares of Cisco Systems in a research note on Tuesday, February 12th. Seven analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $53.75.
Shares of Cisco Systems stock opened at $56.95 on Wednesday. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $57.53. The firm has a market capitalization of $272.48 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.94 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $12.43 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be paid a $0.35 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 2.46%. Cisco Systems’s dividend payout ratio is 59.83%.
Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 13th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the completion of the sale, the chief financial officer now owns 420,696 shares of the company’s stock, valued at approximately $21,749,983.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roderick C. Mcgeary sold 15,000 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the sale, the director now directly owns 102,898 shares of the company’s stock, valued at approximately $5,109,914.68. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock valued at $5,926,000 in the last ninety days. 0.03% of the stock is owned by corporate insiders.
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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