Alpine Global Management LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 43,626 shares of the network equipment provider’s stock, valued at approximately $2,092,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. Cordasco Financial Network boosted its position in shares of Cisco Systems by 78.4% during the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after acquiring an additional 502 shares during the last quarter. Phocas Financial Corp. acquired a new position in shares of Cisco Systems during the 2nd quarter valued at about $82,000. Larson Financial Group LLC boosted its position in shares of Cisco Systems by 408.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock valued at $77,000 after acquiring an additional 1,254 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Cisco Systems during the 2nd quarter valued at about $89,000. Finally, Ellevest Inc. boosted its position in shares of Cisco Systems by 32.3% during the 2nd quarter. Ellevest Inc. now owns 1,810 shares of the network equipment provider’s stock valued at $99,000 after acquiring an additional 442 shares during the last quarter. 72.55% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CSCO opened at $49.05 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The firm has a market capitalization of $202.74 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23. The firm’s 50-day moving average is $46.53 and its two-hundred day moving average is $49.11. Cisco Systems, Inc. has a 1 year low of $43.40 and a 1 year high of $58.26.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The company had revenue of $13.16 billion for the quarter, compared to analyst estimates of $13.09 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.40 dividend on an annualized basis and a yield of 2.85%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
Several brokerages have recently weighed in on CSCO. KeyCorp lowered their price target on shares of Cisco Systems from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Evercore ISI restated a “buy” rating on shares of Cisco Systems in a report on Sunday, December 15th. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a report on Wednesday. Robert W. Baird restated a “buy” rating and issued a $54.00 price objective on shares of Cisco Systems in a report on Monday, November 11th. Finally, Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $52.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.69.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the sale, the chief financial officer now directly owns 352,587 shares in the company, valued at $15,933,406.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 12,597 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 over the last quarter. Insiders own 0.03% of the company’s stock.
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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