Sei Investments Co. Purchases 34,103 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sei Investments Co. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,183,006 shares of the network equipment provider's stock after acquiring an additional 34,103 shares during the period. Sei Investments Co. owned approximately 0.05% of Cisco Systems worth $129,234,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Plancorp LLC grew its position in Cisco Systems by 9.2% during the fourth quarter. Plancorp LLC now owns 20,421 shares of the network equipment provider's stock worth $1,209,000 after buying an additional 1,719 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth $30,000. Mizuho Securities USA LLC increased its position in shares of Cisco Systems by 44.6% in the fourth quarter. Mizuho Securities USA LLC now owns 377,784 shares of the network equipment provider's stock worth $22,365,000 after purchasing an additional 116,537 shares during the period. Fi3 FINANCIAL ADVISORS LLC acquired a new position in Cisco Systems in the fourth quarter valued at about $338,000. Finally, Summit Global Investments lifted its position in Cisco Systems by 0.8% during the fourth quarter. Summit Global Investments now owns 32,624 shares of the network equipment provider's stock worth $1,931,000 after purchasing an additional 261 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Down 0.6 %

Shares of CSCO stock traded down $0.40 on Thursday, reaching $61.40. 25,714,633 shares of the company were exchanged, compared to its average volume of 18,106,779. 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 company has a 50-day moving average of $62.07 and a 200-day moving average of $58.36. The company has a market cap of $244.27 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

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

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 issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.67%. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on CSCO. Morgan Stanley raised their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Finally, BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $66.63.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This trade represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Corporate insiders own 0.01% of the company's stock.

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.