AGF Management Ltd. Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AGF Management Ltd. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 658,993 shares of the network equipment provider's stock after selling 25,099 shares during the quarter. AGF Management Ltd.'s holdings in Cisco Systems were worth $39,012,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Swedbank AB raised its stake in shares of Cisco Systems by 0.6% in the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider's stock valued at $480,555,000 after purchasing an additional 52,711 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Cisco Systems by 21.7% during the third quarter. Baker Avenue Asset Management LP now owns 16,235 shares of the network equipment provider's stock valued at $864,000 after purchasing an additional 2,894 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in Cisco Systems by 88.8% during the third quarter. Tyler Stone Wealth Management now owns 5,435 shares of the network equipment provider's stock valued at $289,000 after purchasing an additional 2,556 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $216,000. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of Cisco Systems by 5.2% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 22,559 shares of the network equipment provider's stock valued at $1,201,000 after acquiring an additional 1,123 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company's stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares of the company's stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,348 shares of company stock worth $4,318,181 over the last ninety days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $60.67 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The firm's 50 day moving average price is $61.72 and its two-hundred day moving average price is $57.60. The firm has a market cap of $241.36 billion, a P/E ratio of 26.49, a PEG ratio of 4.16 and a beta of 0.79.

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Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's payout ratio is currently 71.62%.

Analysts Set New Price Targets

A number of research firms have issued reports on CSCO. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.63.

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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