Philadelphia Trust Co. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,395 shares of the network equipment provider’s stock after purchasing an additional 1,014 shares during the quarter. Philadelphia Trust Co.’s holdings in Cisco Systems were worth $555,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $1,835,000. Edgar Lomax Co. VA raised its position in Cisco Systems by 3.6% in the third quarter. Edgar Lomax Co. VA now owns 1,659,973 shares of the network equipment provider’s stock worth $65,386,000 after acquiring an additional 57,050 shares in the last quarter. Doyle Wealth Management raised its position in Cisco Systems by 38.5% in the fourth quarter. Doyle Wealth Management now owns 27,623 shares of the network equipment provider’s stock worth $1,236,000 after acquiring an additional 7,672 shares in the last quarter. IFM Investors Pty Ltd raised its position in Cisco Systems by 16.1% in the fourth quarter. IFM Investors Pty Ltd now owns 406,899 shares of the network equipment provider’s stock worth $18,209,000 after acquiring an additional 56,489 shares in the last quarter. Finally, Family Firm Inc. raised its position in Cisco Systems by 9.9% in the fourth quarter. Family Firm Inc. now owns 7,213 shares of the network equipment provider’s stock worth $328,000 after acquiring an additional 649 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, January 25th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Thursday, February 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on Cisco Systems from $43.00 to $45.00 in a research report on Friday, November 13th. Smith Barney Citigroup upped their target price on Cisco Systems from $43.00 to $45.00 in a report on Friday, November 13th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $50.00 target price on shares of Cisco Systems in a report on Wednesday, February 10th. Sixteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.63.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period last year, the business posted $0.77 EPS. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.
In other Cisco Systems news, CEO Charles Robbins sold 8,497 shares of the firm’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Maria Martinez sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $46.66, for a total value of $279,960.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,530 shares of company stock worth $3,338,858. 0.02% of the stock is owned by corporate insiders.
About Cisco Systems
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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