MACRO Consulting Group acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,031 shares of the network equipment provider’s stock, valued at approximately $1,651,000. Cisco Systems comprises 1.6% of MACRO Consulting Group’s holdings, making the stock its 16th largest position.
Several other institutional investors have also bought and sold shares of CSCO. Waldron Private Wealth LLC raised its holdings 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 valued at $788,000 after acquiring an additional 242 shares during the period. Winthrop Advisory Group LLC raised its holdings 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 valued at $320,000 after acquiring an additional 278 shares during the period. Mercer Capital Advisers Inc. raised its holdings 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 valued at $283,000 after acquiring an additional 300 shares during the period. Gemmer Asset Management LLC raised its holdings 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 valued at $204,000 after acquiring an additional 337 shares during the period. Finally, Eastern Bank raised its holdings in Cisco Systems by 0.3% in the 4th quarter. Eastern Bank now owns 112,876 shares of the network equipment provider’s stock valued at $4,892,000 after acquiring an additional 354 shares during the period. Institutional investors own 69.14% of the company’s stock.
In related news, Director Roderick C. Mcgeary sold 15,000 shares of Cisco Systems 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 completion of the transaction, the director now owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Goeckeler sold 30,000 shares of Cisco Systems stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $5,926,000 in the last three months. 0.03% of the stock is owned by insiders.
Several research analysts have weighed in on CSCO shares. Goldman Sachs Group cut shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their price target for the company from $58.00 to $62.00 in a report on Tuesday. Bank of America reissued a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a report on Thursday, February 14th. Jefferies Financial Group increased their price target on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Citigroup increased their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a report 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 report on Tuesday, February 12th. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $53.75.
NASDAQ CSCO opened at $56.95 on Wednesday. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $57.53. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39. The company has a market cap of $272.48 billion, a P/E ratio of 21.75, a PEG ratio of 2.94 and a beta of 1.22.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The firm had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.43 billion. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 2.75 EPS for the current year.
Cisco Systems declared that its Board of Directors has authorized a share repurchase program 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 programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Friday, April 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
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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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