CIBC Asset Management Inc Has $87.83 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CIBC Asset Management Inc boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,483,656 shares of the network equipment provider's stock after buying an additional 12,177 shares during the quarter. CIBC Asset Management Inc's holdings in Cisco Systems were worth $87,831,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pflug Koory LLC grew its position in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after buying an additional 165 shares during the last quarter. Pathway Financial Advisors LLC grew its position in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider's stock worth $343,000 after buying an additional 172 shares during the last quarter. Beaumont Financial Advisors LLC grew its position in Cisco Systems by 1.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider's stock worth $627,000 after purchasing an additional 173 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Cisco Systems by 0.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider's stock worth $1,879,000 after purchasing an additional 178 shares in the last quarter. Finally, Aviso Wealth Management grew its position in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research analyst reports. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays lifted their price objective on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 13th. UBS Group lifted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.53.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the transaction, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,921 shares of company stock worth $4,298,667 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Down 0.3 %

Shares of CSCO stock traded down $0.17 on Thursday, hitting $64.67. The company's stock had a trading volume of 14,823,623 shares, compared to its average volume of 19,789,303. The stock has a market capitalization of $257.57 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. 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 firm's fifty day moving average price is $60.43 and its 200-day moving average price is $55.95.

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

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.54%. 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 69.87%.

Cisco Systems announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Company Profile

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.