Boston Partners trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,644,951 shares of the network equipment provider's stock after selling 23,450 shares during the period. Boston Partners owned approximately 0.09% of Cisco Systems worth $215,826,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $31,000. Highline Wealth Partners LLC increased its holdings in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after buying an additional 260 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the third quarter valued at approximately $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 in the last 90 days. Company insiders own 0.01% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Citigroup reissued an "overweight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Morgan Stanley increased their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $66.63.
View Our Latest Research Report on CSCO
Cisco Systems Trading Down 0.5 %
Shares of CSCO traded down $0.32 during midday trading on Friday, hitting $60.30. The stock had a trading volume of 65,885,624 shares, compared to its average volume of 18,008,743. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a market cap of $239.89 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock's 50 day moving average is $61.95 and its 200 day moving average is $58.11.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems announced that its board has authorized a share repurchase plan 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 plans are generally a sign that the company's board believes its shares are undervalued.
Cisco Systems Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.
About Cisco Systems
(
Free Report)
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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